Reserve Bank keeps cash rate on hold at 2 per cent

RBA rate hold: 2.00%

CENTURY 21, the largest real estate sales organisation in the Asia Pacific region, believes the real estate market will continue to stabilise under the Reserve Bank of Australia’s decision to keep the official cash rate at two per cent.

"The RBA, APRA and retail banks have curtailed most of the excitement within the investor sector of late," said CENTURY 21 Australasia Chairman and Owner, Charles Tarbey.

"This has been achieved not only by APRA making regulatory changes but also by the banks themselves changing their lending practices.

"These factors have lead to tightening in the market which could indicate that the RBA has scope to decrease interest rates in the future rather than increase them," said Charles Tarbey.

According to CoreLogic RP Data, Sydney’s annual growth rate is currently 12.8 per cent, down from its peak of 18.4 per cent in July earlier this year. Melbourne’s annual growth rate has dropped from a recent peak of 14.2 per cent to 11.8 per cent over the 12 months ending November this year.

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 01/12/2015 at 2:05 PM | Categories:

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