Century 21, the largest real estate sales organisation in the world, believes the Reserve Bank's decision to leave the cash rate on hold at 1.5 per cent is prudent in light of economic conditions and will likely help to drive the property market during spring.
"Market conditions continue to differ across the country, with some areas needing more stock to meet strong demand and others that would benefit from stimulus," said Charles Tarbey, Chairman and Owner of Century 21 Australasia.
"Leaving rates on hold will help to avoid the risk of overheating some areas, particularly active capital city markets such as Sydney and Melbourne.
"Rates will not stay this low forever so I would encourage Australians to approach any property transaction with future rate rises in mind to ensure they make a successful purchase for now and into the future.
According to the CoreLogic Quarterly Review, combined capital city home values have recorded value growth of 6.1 per cent over the 12 months to July 2016.
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.
