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Cash Rate Remains The Same

By Jamil Allouche

The Reserve Bank of Australia (RBA) decided to leave the cash rate the same for the third month in a row, as the economy continues to rebalance itself after the mining boom.

Recent times have seen an increase in retail spending and more growth in the property market and leaving the cash rate at 2.5 per cent should encourage further economic growth, according to Mark De Martino, Loan Market director.

"We're finally starting to see sustained confidence return to the economy. Homeowners and buyers are reaping the rewards of record low interest rates," said Mr De Martino.

If you are looking to buy or sell property in Brunswick then this latest ruling may affect your decision.

Mr De Martino said while the outlook for the property sector is strong, building construction and first home buyers haven't caught up. He suggested that governments may need to revisit their grants to first home buyers to ensure they are effective.

Potential buyers may want to seek professional advice when buying a home and seeking a home loan to ensure savings and market conditions are used to their utmost advantage.

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