Following its Board meeting today the RBA has announced that it has decided to leave the cash rate unchanged at 1.75 per cent.
Whilst this is largely good news for property investors, home owners and those looking to get into the market the Governor, Glenn Stevens, also made the following property- related comments pertinent for those with an interest in real estate:
‘Indications are that the effects of supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. Dwelling prices have begun to rise again recently. But considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities.’
Whilst rising dwelling prices is good news for current owners, those who are looking to enter the market may wish to consider whether now is a good time.
If you, or someone you know, is looking to buy soon then our Buyer’s Agency service could help to take a lot of the stress and uncertainty out of the process. Interested in how this could help? Call or email us today!