Cash Rate Decision to Boost Queensland Market
The Reserve Bank of Australia (RBA) has made a second cut to the official cash rate for this year, resulting in a drop to 2.5 per cent.
This rate cut will give confidence to many owners of Gold Coast real estate, as financial pressures will ease for many household budgets.
Furthermore, lower interest rates may act as a trigger to spur more people looking for homes for sale in the Gold Coast, as property becomes a more affordable option.
The RBA's decision has been welcomed by the Real Estate Institute of Queensland (REIQ), with chief executive officer Anton Kardash stating that it will provide "more good news" for the real estate market in the state.
"Today's rate cut adds to a growing number of indicators that show our property market is well and truly heading into positive territory," said Mr Kardash in an August 6 statement.
Mr Kardash noted that both confidence and buyer activity have been steadily improving over the past year, and this easing in monetary policy may help to boost these levels further.
If you would like to take advantage of the low interest rates and secure a slice of Broadbeach real estate, contact a Ray White agent today.