News

Official Cash Rate Remains Unchanged

By Larry Malan

Yesterday's (November 5) decision to leave Australia's cash rate unchanged is good news for anyone interested in buying houses for sale in Broadbeach.

The Reserve Bank of Australia's announcement to leave the rate at 2.5 per cent comes off the back off slow-running global growth and lower levels of mining investment in Australia.

Changes made to monetary policy can have flow-on effects to mortgage interest rates, which is good news for buyers. The rate is currently at an historic low that allows buyers to confidently take out loans, further assisting the housing recovery.

Governor Glenn Stevens notes there has recently been increased demand for finance by households, and the housing and equity markets have both continued to strengthen.

Mr Stevens also believes the Australian dollar is uncomfortably high, despite falling throughout the year. He says a lower exchange rate will probably be required in order to sustain balanced growth within the economy.

If you are looking to make the most of the positive conditions, why not check out real estate in the Gold Coast region? Contact Ray White Broadbeach for expert advice and guidance.

Up to Date

Latest News