RBA leaves cash rate on hold

RBA rate hold: 2.00%

CENTURY 21, the largest real estate sales organisation in the Asia Pacific region, believes the Reserve Bank's decision to leave the cash rate at two per cent is prudent.

"Changes to lending conditions made by the regulatory bodies and banks last year slowed the market quite substantially in Sydney and Melbourne," said CENTURY 21 Australasia Chairman and Owner, Charles Tarbey.

"Inflation rates are at the lower level of the RBA's target range but current employment data and the lower Australian dollar mean that there is less pressure on the RBA to drop interest rates.

"I believe that stability in interest rates is a good thing for the housing market at the moment as it gives borrowers a degree of certainty about their repayments in the short to medium term," said Charles Tarbey.

Recent information from CoreLogic RP Data shows that dwelling values across Australia's combined capital cities increased by 0.9 per cent rise in January after recording no change in December and a 1.5 per cent drop in November.

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 Charles Tarbey on 02/02/2016 at 1:43 PM | Categories:

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