Reserve Banks keeps interest rates at three per cent

CENTURY 21 believes that the decision by the Reserve Bank of Australia to keep interest rates on hold at three per cent, will likely encourage the national housing market by continuing to make finance and refinance options attractive to buyers. 

“At its first meeting for 2013, the Reserve Bank elected to keep interest rates on hold, following four rate cuts last year that clearly had a positive effect on the national housing market,” said Chairman and Owner of CENTURY 21 Australasia, Charles Tarbey.  

“CENTURY 21 is starting to see some green shoots appearing in the residential property market and this decision, combined with other attractive buying conditions, bode well for the market in 2013.

“This decision will likely help to keep Australia’s housing market on a modest growth trajectory, and also give the Reserve Bank more scope to cut rates should conditions deteriorate in the coming months,” concluded Charles Tarbey.  

As part of its decision, the Reserve Bank reasoned that it was prudent to leave the cash rate unchanged in light of recent economic information, the expected rate of inflation and the fact that there had been a substantial easing of monetary policy in recent decisions. 

The Reserve Bank’s decision follows the recent release of RP Data-Rismark’s Hedonic Home Value Index results, which showed that median home values in capital cities rose 1.2 per cent in January, taking the annual movement in dwelling values back into positive territory with a 1.8 per cent increase over the past twelve months.

For more information about the residential property market in your areas of interest, please feel free to stop by your local CENTURY 21 Real Estate office for expert and clear advice. Additionally, if you would like to speak to a mortgage professional about suitable loan packages, please contact CENTURY 21 Home Loans.

 

Posted by Charles Tarbey on 15/02/2013 at 12:00 AM | Categories:

3 Comments

plots in mahabaleshwar

plots in mahabaleshwar wrote on 20/02/2013 3:50 PM

This is the nice decision to hold the intrest rates.
logopeople

logopeople wrote on 21/02/2013 9:10 PM

Holding Interest rates can help to bring down inflation
Elevator Lift

Elevator Lift wrote on 01/04/2013 9:22 PM

It's just a great decision.

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