Despite some of the predictions of gloom, Australian property markets started the new financial year with the good news that interest rates will remain on hold when the Reserve bank decided to keep them unchanged for the fourth consecutive month.
There remains concerns over inflation and global markets, however this is a positive sign for all home owners and investors that the rate rises of the past are over and the economy remains stable.
The last two rises in February and March had spooked the Australian property market and caused it to pause from the improved growth that had been experienced in all cities, particularly in the East Coast markets.
This new hold decision and the continued strengthening of incoming migration will no doubt help to continue the growth cycles in Australia.
Astute investors who have benefited from acquiring during the past few months, will no doubt be well rewarded for thier courage in the near to medium future as we can expect the local Australian buyer to now regain confidence and look to find their property.
Click here to read the Reserve Bank Statement
There remains concerns over inflation and global markets, however this is a positive sign for all home owners and investors that the rate rises of the past are over and the economy remains stable.
The last two rises in February and March had spooked the Australian property market and caused it to pause from the improved growth that had been experienced in all cities, particularly in the East Coast markets.
This new hold decision and the continued strengthening of incoming migration will no doubt help to continue the growth cycles in Australia.
Astute investors who have benefited from acquiring during the past few months, will no doubt be well rewarded for thier courage in the near to medium future as we can expect the local Australian buyer to now regain confidence and look to find their property.
Click here to read the Reserve Bank Statement
