Sell with Confidence
Read More
News

RBA Cuts Interest Rate to 2.50% p.a.

By Rebecca Richmond

The Reserve Bank of Australia has cut rates from 2.75% p.a. to 2.50% p.a.

The Reserve Bank of Australia has confirmed they are dropping the interest rate to 2.50% p.a. bringing an end to the three month hold at 2.75% p.a. Rates have been held low throughout 2013 and further drops have been rumored to take place to stimulate the Australian economy, but until today nothing had been confirmed.

The rate cut this month could lead to a spike in purchases in the property market as many people seize the opportunity and look at entering the market as a first- time buyers or expanding their portfolio by moving into investment property. A new report from RP Data* has shown there are 3,230 suburbs across Australia in which it’s cheaper to buy than rent, so now could be a good time to look at buying.

* July 2013 Rent Vs Buy report

Source – realestate.com.au

Up to Date

Latest News

  • The top colour trends for 2021 are surprisingly serene

    With the pandemic swiftly changing our relationship with the four walls in which we reside and many of us now working from home, the lines between our work lives and our home lives have been substantially blurred. While your budget might not stretch to a full-blown renovation involving an extension … Read more

    Read Full Post

  • Strong auction clearance rates dominate October

    October is already on track to be a record month for Australasia’s leading real estate group with clearance rates at an all time yearly high across the country. Buyer demand continues to stay high as many compete to close the deal in time for Christmas. Last weekend, the Ray White … Read more

    Read Full Post