RBA decision may drive auction activity

Century 21, the largest real estate sales organisation in the Asia Pacific region, believes the Reserve Bank’s decision to leave the cash rate on hold at 2.5 per cent may result in more vendors seeking to list through Auction this spring.

 

“Heading into the traditionally busy spring selling season, the Reserve Bank’s decision to keep interest rates on hold will likely bolster buyer’s confidence,” said Chairman and Owner of Century 21 Australasia, Charles Tarbey.

 

“This may result in a larger turnout at spring auctions as the warmer weather and favourable interest rate environment results in more buyers out in search of their dream home.”

 

The Reserve Bank in a statement reasoned that it was appropriate to leave the cash rate on hold in light of a small recovery in household sentiment and gradually improving business conditions.

 

“Century 21 believes vendors would be wise to begin preparing their homes for auction in anticipation of this added interest,” said Charles Tarbey.

 

“Some vendors might like to take advantage of the seasonal change by having small repairs conducted around the house,” concluded Charles Tarbey.

Posted by Charles Tarbey on 03/09/2014 at 12:00 AM | Categories:

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