If you've been putting off investing in real estate in Rockhampton, it could be a fantastic time to take the plunge right now.
The recent Reserve Bank of Australia's (RBA) decision to keep the cash rate at a low 2.75 per cent is great news for anyone looking towards the property market.
Leaving the cash rate this low for at least another month will allow many more investors to secure home loans for lower interest rates.
According to the RBA, the decision to leave the cash rate steady was in order to give the Australian economy more time to stabilise and strengthen.
RBA governor Glenn Stevens stated that domestic growth had been slightly slower recently, so this decision allows for more time to grow.
The Real Estate Institute of Australia's president, Peter Bushby, agrees with the decision, saying in a statement released July 2 that since the cash rate was cut back in May, there had been a 0.3 percentage point decrease on standard variable interest rates – which is now sitting at 5.9 per cent.
Any potential investors or homeowners looking to buy real estate in Rockhampton or any of the surrounding suburbs should get in contact with the team at Ray White Rockhampton. Their expertise will ensure that you can achieve your property goals with ease!