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Interest rate remains at record low

By Jamil Allouche

Whether it's property in Brunswick or Coburg real estate that's caught your eye – everyone wants to enter the market at the right time.

Therefore, many buyers will obviously be pleased that the Reserve Bank of Australia (RBA) has announced it will be keeping interest rates at record lows for another month. 

The key cash rate remains at 2.5 per cent and hasn't shifted since August last year. And in further good news for buyers, there's no indication that's about to change.

Glenn Stevens, RBA governor, said the central bank's current approach to monetary policy is providing ample support for Australia's economy.

"Monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target," he explained.

"On present indications, the most prudent course is likely to be a period of stability in interest rates."

What's good news for buyers is also positive for sellers, and the fact that house prices have risen significantly over the last year is the icing on the cake.

However, Mr Stevens did point out that there have been "signs of moderation" recently, which may encourage people on the sidelines ready to buy to wait just a little longer to get the best deal.

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