Analytical organisation RP-Data Rismark has today (August 31st) predicted a shift in sentiment towards the adoption of a lower interest rate in the coming months.
Reported by the Australian, the company's estimations emerge after statistics revealed that capital city house prices continued to plummet throughout July.
However, international economist at RP-Data Rismark Chris Joye suggested that the current situation could lead to a crucial inflexion point for lenders.
He also suggested that the real estate market could benefit the most from a decision from the Reserve Bank of Australia to reduce the country's debt.
This news comes after economists suggested that the ideal time for the Reserve Bank of Australia to reduce its cash rate target could emerge in the fourth quarter of 2011.
Posted by Ravin Chatlani