With the official cash rate remaining stable for another month, now could be a great time to consider purchasing real estate in Brunswick. The Reserve Bank of Australia announced earlier this week (2 December) that the nation's cash rate would remain 2.5 per cent for another month – making this the seventeenth month of consistent cash rate figures to be seen in Australia.
The official cash rate affects interest rates across the nation, which could work out well for those looking into taking out a home loan and making plans to move into their local real estate market.
Housing Industry Association chief economist Harley Dale said the nation was close to beating out the record for longest held cash rate, which is currently 19 months seen between December 1994 and June 1996.
"We remain of the view that the Official Cash Rate will be on hold until well into 2015 and that will help sustain the strength in national new home construction activity. This sector is a very important driver of domestic economic activity," said Mr Dale in a 2 December statement.
Now could be the perfect time to get in touch with a local real estate statement to begin working toward achieving your own property goals in Brunswick.