It was no surprise to see that the Reserve Bank of Australia has chosen to keep official interest rates on hold this month.
Following two cuts in the official interest rate earlier this year, the cash rate is now sitting at a historic low of just 1.5%. The market widely predicted no change to rates this month given the fact that this was the first board meeting presided over by the incoming Governor Philip Lowe.
Until very recently, most economists predicted another cut in rates before the end of the year however sentiment has now softened with many not expecting further cuts this year, due in part to the increase in housing prices in the Sydney and Melbourne markets.
With the combination of unprecedented low interest rates and drastically low levels of stock available on the market in Sydney at the moment, you may wish to consider looking at off market or unlisted property, which is simply property that is not advertised to the general public. Give yourself the opportunity to see more homes and get ahead of the competition by viewing off market property. In this extremely competitive market, Unlisted Property gives you the key to open more doors.
My name is Felicity Schilling and I am the Director and Owner of Unlisted Property – Buyer’s Agent. I am a licensed buyer’s agent and have been helping families and individual find and settle into their new home for almost 10 years. If you would like assistance in finding and buying your new home or investment property in Sydney’s Eastern Suburbs contact me for an obligation free chat on how I can help you buy faster and at the best price now. With only 12 weeks before the festive season, now is the time to act! Call or text me today.