At its final meeting for 2017, the Reserve Bank of Australia (RBA) decided to keep the official cash rate unchanged at 1.5%. The RBA next meets in February 2018.
The good interest rate news for property owners and buyers looks set to continue into 2018. In its Statement on Monetary Policy released in mid-November, the RBA indicated that:
- Keeping the cash rate low at 1.5% will support more growth in the economy.
- Property investment is expected to remain at a high level over the next couple of years.
- Housing supply will continue to expand at an above average rate, which could weigh on housing prices and rents in some markets.
Happy Festive Season and New Year!
We’ll be here if you need help with your property purchasing plans or a home loan health check, so please don’t hesitate to give us a call on 0437 498 800. We’d love to hear from you!
