The Reserve Bank of Australia's (RBA) decision to lower the official cash rate has the potential to bring widespread benefits to the national auction market, one expert has predicted.
Not only will buyers of real estate in Burpengary reap the rewards of lower lending rates, but there's also hope that auction sales will thrive as a result of the reduction.
CoreLogic RP Data auction market specialist Robert Larocca explained that sellers are likely to witness a rise in interested parties now the official cash rate stands at 2.25 per cent.
In some cases, they may find demand for homes is greater than ever, especially if buyers can secure lower borrowing rates from their lender.
The true extent of the RBA's decision will become known over the next few days, as post-rate announcement auction figures start to emerge.
If you're hoping to make your move to Burpengary, make sure you give the team at Ray White Caboolture a call.
Not only do we know a lot about the local market, but also have all the expertise you need to buy a property that you and your family can call home.