Century 21, the largest real estate sales organisation in the Asia Pacific region, believes the Reserve Bank's decision to hold the cash rate at 1.75 per cent is sensible to maintain strong yet stable growth in the property market.
"Mean property data may paint a picture of a thriving national real estate market, however the true conditions of a local market may differ greatly from one area to the next," said Century 21 Australasia Chairman and Owner, Charles Tarbey.
"In light of this, a rate hold is a prudent move that will preferably reduce risk of overheating certain property markets, yet still allow access to cheap debt in other markets where increased activity would be welcomed.
"While strong and continued growth is favourable, it does not guarantee that rates will remain stagnant – Australians need to prepare for potential increases and ensure their financial situation will withstand any possible changes," said Charles Tarbey.
Recently released CoreLogic RP Data reported a 1.6 per cent rise in capital city dwelling values in May, taking values five per cent higher over 2016 to date.
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.
