Anyone interested in purchasing Caboolture real estate in the coming months could be in for good news. The latest data released by the Australian Bureau of Statistics has revealed the nation’s inflation rate is resting within the Reserve Bank of Australia’s threshold – highlighting the effectiveness of the historically low cash rate.
After being dropped to 2.5 per cent in August 2013, the reduced cash rate has had a number of effects on Australia’s economy. One of the main benefactors is the nation’s housing industry due to the resulting low interest rates. With inflation remaining in a stable area, Housing Industry Association Senior Economist Shane Garret said the recovery of Australia’s residential property market will continue.
“The bottom line is that interest rates are likely to remain at very low levels for some time to come. This is good news both for existing homeowners and for those considering purchasing their home,” said Mr Garrett in an April 23 statement.
Now could be a great time to consider looking into your home loan options and finding a competitive product to help you secure your dream slice of Caboolture real estate.