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RBA: Official Cash Rate Decision Good News for Real Estate Market

By Kevin Kelly

Now could be the perfect time to purchase houses to rent in Bunbury, with the recent announcement that the Reserve Bank of Australia (RBA) has left the cash rate unchanged for another month. 

After being lowered to the historically low level of 2.5 per cent back in August, RBA Governor Glenn Stevens stated yesterday (November 5) that it would remain at this level for at least another month.

This could be encouraging for anyone interested in purchasing real estate in Bunbury, with the cash rate affecting home loan interest rates across the nation – aiding a housing recovery and offering potentially more competitive rates on mortgages.

Loan Market Director Mark De Martino said the property market was gaining momentum, with the RBA making the right call for the nation.

"We’re finally starting to see sustained confidence return to the economy. Homeowners and buyers are reaping the rewards of record low interest rates," said Mr De Martino in a November 5 statement.

If you've ever considered purchasing investment property in Bunbury or any of the surrounding areas, now could be the best time to give it some serious consideration – especially while the real estate market is in such good shape.

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