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 is prudent as signs emerge of moderating real estate conditions in some markets.
"After years of strong growth it would appear that some markets have begun to moderate and a stable interest rate environment may be conducive for a soft landing," said Charles Tarbey, Chairman and Owner of Century 21 Australasia.
"While there is still a great deal of activity in many markets, areas such as Perth are struggling at the moment and continued access to cheap debt will be beneficial.
"Australians should still remain cautious of over-borrowing in light of these conditions and current homeowners would be wise to consider paying down their mortgages," said Charles Tarbey.
The CoreLogic Home Value Index recorded a one per cent rise in dwelling values in September, taking values 2.9 per cent higher over the quarter. The top performing market was Melbourne, with a 5 per cent rise in dwelling values over the quarter, followed by Canberra up 4.5 per cent and Sydney up 3.5 per cent.
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.
