Interest rates will remain low for May, following the Reserve Bank of Australia’s (RBA) decision to retain the official cash rate at the same level. After dropping the cash rate to 2.5 per cent in August 2013, this marks the ninth consecutive month of low interest rates – highlighting the potential for investment in Gold Coast property.
The rising economy has provided a strong backbone for future investment in property, and there are a number of options available to buyers across the nation. With rising housing approvals and an increased number of approved finance occurring in Queensland, apartments in Broadbeach could be a fantastic avenue for investment.
Housing Industry Association Economist Geordan Murray said the retained cash rate was great news for the recovering real estate nation, which will become more important in the coming months.
“While noting the domestic economic growth has been below-trend, the RBA statement suggests the board’s confidence has been buoyed by positive developments in the household sector, most notably the strong leading indicators for residential construction,” said Mr Murray in a May 6 statement.
Take this opportunity to discuss your home loan options with an expert in the coming weeks and secure a competitive mortgage product for you and your family today.