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RBA Leaves Rates Unchanged

The Reserve Bank of Australia (RBA) which meets in the first Tuesday of every month, left interest rates unchanged at 2.50% stating amongst other matters that “Housing and equity markets have strengthened further, trends which should in time be supportive of investment”.

The RBA notes “… recently there have been the signs of increased demand for finance by households, the full effects of these decisions are still coming through, and will be for a while yet”.

The pick up in building approvals and the RBA’s mention of the pick up in household finance demand augurs well for the property market’s contribution to Australian GDP growth in coming years.

Continued strong population growth in conjunction with subdued construction, are two factors that underpin the anticipated growth in the property development market.

Finance

Total value of dwelling commitments

 

Disclaimer: The information provided in this article is general in nature and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information with regard to your objectives, financial situation, and needs.

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