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New cash rate drops to historic low

By Kevin Kelly

Another cut to the nation's official cash rate has the potential to be extremely beneficial forbuyers interested in purchasing real estate in Bunbury

The Reserve Bank of Australia announced earlier this month that the official cash rate would be reduced to the low level of two per cent.

This follows a cut down to 2.25 per cent in February, further highlighting the country's continued need for more economic support.

Housing Industry Association economist Geordan Murray said this further reduction would help Australia's new housing market continue to strengthen and grow. This will help to maintain the already record high levels of activity. 

"New home building has been amongst the strongest performing sectors in the economy and the low interest rate environment has certainly played a role in boosting industry activity," said Mr Murray in a 5 May statement. 

"Looking beyond residential building, today's rate cut will provide the support necessary to reignite business investment more broadly." 

A lower cash rate can result in reduced interest rates on mortgages, helping encourage buyers to lock in a great home loan deal for their real estate goals. 

Now could be a wonderful time to consider getting in touch with a local real estate agent to begin investigating the property options available in the Bunbury community. 

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