Now is shaping up to be a great time to buy a house for sale in Caboolture and surrounding suburbs, as the official cash rate is stable for another month.
On November 5, the Reserve Bank of Australia (RBA) announced it would leave the official cash rate at 2.5 per cent, benefitting both homeowners and prospective buyers alike.
Citing sluggish economic growth in global and domestic markets as key reasons for its decision, the RBA said it would continue to assess monetary policy in the future.
As a result, property buyers can enjoy securing home loans in Caboolture at a lower rate, saving them money in the long run.
Since the last cash rate cut was made in August, housing affordability has improved around the country.
The Real Estate Institute of Australia found that homeowners in Queensland can enjoy spending a smaller amount of their income on loan repayments. This figure has reached 26 per cent, after experiencing a 1.9 per cent reduction.
It's not just low interest rates that home buyers can look forward to either. Prices for Caboolture real estate are on the rise, signalling a strengthening market.
According to figures from MyRPData.com.au, median sale prices for houses in Caboolture have reached $298,000.
For expert advice and assistance with your real estate needs, get in touch with the professionals at Ray White Caboolture today.
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