Reserve Bank of Australia keeps cash rate on 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 the Reserve Bank’s decision to leave the cash rate on hold at 1.5 per cent will provide further stabilisation to the housing market in light of changing market conditions. 

The Chairman and Owner of CENTURY 21 Australasia, Charles Tarbey, said that movements in interest rates abroad and locally by national banks, should serve as a reminder for Australians to not borrow beyond their means. 

“Not long ago we saw the US Federal Reserve lift rates, which may be an indication of potential for future rate rises here in Australia,” said Charles Tarbey. 

“Whilst we cannot be certain of any future movements, I believe it is important to consider what even a small increase in rates can mean for your mortgage repayments. 

“Australians looking to obtain finance for property purchases should therefore maintain a level head and remain within a strict budget to ensure their ability to repay is not challenged down the track,” said Charles Tarbey. 

According to CoreLogic data, capital city dwelling values moved 1.4 per cent higher over March, taking the combined capital city index to an annual growth rate of 12.9 per cent; the highest annual rate of growth since the twelve months ending May 2010.  

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.

Posted by Administrator on 03/04/2017 at 12:57 PM | Categories:

Comments

Write your comment





Leave this field empty: