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Official Cash Rate Retained Into 2014

By Kevin Kelly

The Reserve Bank of Australia (RBA) announced their official cash rate decision earlier this week (February 4), with the choice to retain it at the historically low level of 2.5 per cent. This could be great news for anyone interested in purchasing real estate in Bunbury in the coming months.

After being dropped to this level back in August 2013, the interest rates fell in accordance. This has resulted in an overall strengthening of the real estate market across the nation, as more people are able to afford the financing needed to purchase property.

Furthermore, many industry experts agree that the decision to maintain the low cash rate was the right call to make. Senior Economist for the Housing Industry Association (HIA) Shane Garrett said the decision showed "sound policy prescription".

"Low interest rates can help to bolster domestic demand in particular. The recovery in new dwelling investment over the past year is evidence of this," said Mr Garrett in a February 4 statement.

The current real estate climate in Australia could provide a great opportunity for the purchase of real estate in Bunbury, which could be a fantastic decision for the future of you and your family.

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