Cash rate stays low for another month

By Kevin Kelly

Buyers of real estate in Bunbury have had a good run for some time now and these conditions are set to continue for a little while longer.

That's because the Reserve Bank of Australia (RBA) has made its cash rate announcement for May and has decided the 2.5 per cent rate will stay in place for at least another month.

Some sectors are still struggling to stay above water, but the RBA revealed that residential construction is one of the best performers of recent times.

The Housing Industry Association (HIA) said it will be necessary to keep rates low for some time yet, especially if the property market is going to continue to benefit.

"A period of stability will maintain a positive environment for residential construction activity to boost economic growth throughout 2014 and into next year," noted HIA Chief Economist Harley Dale.

Interest rates are expected to stay low, as the RBA's Governor Glenn Stevens suggested this is the "most prudent course of action".

This will no doubt bring good news to anyone hoping to get onto the property ladder, as it typically means mortgage lenders are able to offer you the most competitive products.

Up to Date

Latest News

  • 5 tips to make your open home a big success

    Ray White Bunbury has years of experience helping people to sell a range of real estate in Bunbury. Here we discuss open homes, why they’re a good idea, and what tips you should follow to give you the best chance of making your open home a big success.

    Read Full Post

  • 5 things you should do when buying a house

    Purchasing a home can be a trying process – it can seem as if the things you have to do are endless. But there are certain things around inspecting the property that you need to pay special attention to anytime you’re purchasing real estate. What are they and why are they important?

    Read Full Post