Longest rate stability in a decade good for Gold Coast buyers
Not many things happen once every 10 years. One of the few once-a-decade events just ran its course at the end of last year, when the enormity of the Grand Canyon was filled up by a colossal river of fog – something you won't get a chance to witness all the way until 2023, if you're interested.
While the cash rate doesn't necessarily go through record-long periods of stability in 10-year cycles, it's certainly been sticking closely to this model.
The Reserve Bank of Australia board's decision to hold the cash rate for 13 months marks the longest period of rate stability since 2003. Meanwhile, the longest was all the way back in December 1994, when the cash rate began a 19-month long period of steadiness.
Loan Market Chairman Sam White was positive about the news, saying that the continued low interest rate environment would be a boon for home buyers, whether they were looking for apartments for sale in Broadbeach or other types of Gold Coast real estate.
"There likely hasn't been a homeowner with a home loan that low in twenty years," he said in a 2 September release.
With rates as low as these, now could be the time to start buying.