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Another Month of Low Rates for Property Buyers

By Kevin Kelly

Buyers of real estate in Eaton will continue to benefit from a low interest rate environment for at least another month as the Reserve Bank of Australia (RBA) made its May announcement.

RBA Governor Glenn Stevens explained that current monetary policy settings appear to be working and so the committee decided to leave the cash rate at 2.5 per cent.

"Recent information suggests moderate growth is occurring in consumer demand and foreshadows a strong expansion in housing construction," Mr Stevens noted.

This could spell good news for the property market in Bunbury and beyond, as high levels of confidence are often what the economy needs to get back on its feet.

Mr Stevens said inflation is currently within its target range and "monetary policy is appropriately configured to foster sustainable growth in demand", giving reason for optimism.

The RBA acknowledged that "the most prudent course is likely to be a period of stability in interest rates", but how long they will be around for is open to debate.

If you are hoping to enter the property market in Western Australia or other parts of the country, it could pay off to strike sooner rather than later, as the low interest rates will not be around forever.

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