Viewing by month: December 2017

RBA leaves cash rate hold at 1.5 per cent

RBA rate hold: 1.5%

CENTURY 21, a real estate organisation with over 100,000 staff in 78 countries, believes that whilst the Reserve Bank has left the official cash rate at 1.5 per cent, rate increases may be closer than many think.

Charles Tarbey, Chairman and Owner of CENTURY 21 Australasia, said that Australians should not rule out the potential for upwards movement of the cash rate in 2018: “The Australian economy seems to be performing quite well and the longer that lasts, the greater the chance of a rate hike.

“The Reserve Bank has noted conditions in major city housing markets appear to be easing and supervisory measures by APRA remain in place to manage levels of household debt.

“Australians may benefit from factoring higher rates into their investment strategies to ensure their mortgage commitments remain manageable over the mid to longer term.

“They may also consider making debt reductions while rates are low to help avoid any significant mortgage stress that higher rates could incur,” said Charles Tarbey.

CoreLogic has reported that national dwelling values held steady in November, with a 0.1 per cent fall in capital city dwelling values offsetting a 0.2 per cent rise in values across the combined regional markets of Australia. 

CENTURY 21 encourages potential buyers who are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.

With over 3,000 offices, CENTURY 21 is the largest real estate sales organisation in the Asia Pacific region, a region vital to Australia’s continued economic success.


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