It was announced earlier this week that the official cash rate would be staying at two per cent for a while longer, bringing good news if you've yet to buy property in Caboolture.
The Reserve Bank of Australia's (RBA) governor Glenn Stevens reflected on conditions in the national economy, concluding that there are still some improvements to be made. Although growth is apparent, it's below the long run average, which is something that will need to be addressed moving forward.
This makes it the second month in a row that the cash rate has been at its all-time low of two per cent, and there's already speculation over how long this will continue for. Commenting on how the RBA will react to economic conditions moving forward, the Housing Industry Association (HIA) believes there is a chance the cash rate will stay low for some time.
"Holding rates steady, with the door ajar for a further reduction if required, is the appropriate stance under current economic conditions," noted HIA chief economist Harley Dale.
He emphasised that the decision to maintain the cash rate was unanimously expected, leading the HIA to predict that the current rate will remain in place for some time to come.
Mr Stevens stressed that some parts of the economy are performing in line with expectations, or in the case of construction, higher than anticipated. Australia is currently enjoying high levels of building, opening up new build properties to anyone yet to enter the market.
Knowing where to start can be tough when it comes to buying Caboolture property, which is why we're on hand to help every step of the way. Get in touch to speak to our team and find out more about how we can assist with your next move.
Ray White Caboolture and Ray White Burpengary have created a reusable and recyclable bag. The Queensland Government has taken action to protect our unique environment and wildlife through the introduction of a ban on the supply of single-use lightweight plastic shopping bags on 1 July 2018. To recycle your Ray White … Read more
Below are a few ideas on what you could do for Father’s Day Treat dad to the Caboolture Sports Club all you can eat hot & continental buffet breakfast at the Caboolture Sports Club CLICK HERE to book Morayfield bunnings make a Gift For Dad Workshops CLICK HERE The shaver shop … Read more