December has arrived, bringing with it the promise of Santa-themed decorations, Christmas jingles and an onslaught of sales. For keen-eyed buyers of real estate in Bentleigh, it’s also hauled out a new cash rate decision.
Though, ‘new’ might not necessarily be the best way to describe the monetary policy decision. This is especially since the Reserve Bank of Australia has elected to keep the cash rate fixed at 2 per cent for December. Anyone keeping an eye on the country’s financial landscape will know that this is the seventh month in a row it has gone unchanged since the last cut in May earlier this year.
If you’re in the market for real estate in Bentleigh, the decision can mean different things depending on the way you’re looking at it. On one hand, the 2 per cent cash rate is a record low, and having it stay that way will mean continued low interest on mortgages.
On the other, it’s important to note that several major lenders have bumped up interest rates recently in light of tightening government restrictions. More and more institutions are falling in line with this trend, which means it’d be harder to secure the same rate as you might have had in July, for instance. A further cash rate cut could very well push interest rates lower.
However, the Housing Industry Association did mention in a November release that there’s no guarantee it would have passed on the full reduction to borrowers anyway. This is particularly since the Australian Prudential Regulation Authority has been actively working to tighten lending standards.
As noted by the Reserve Bank, “overall conditions are still quite accommodative,” meaning it remains an opportune time to pick up a mortgage at a good rate.
If you want to take advantage of low interest rates and pick up a Bentleigh property, get in touch with Ray White Carnegie. Our team will be there to assist you every step on the way.
Article Source : Nerida Conisbee – Chief Economist Australian housing enters 2026 with momentum but uncertainty. Double-digit growth likely to slow toward mid-year as rate relief remains unlikely in first half. Affordable segment, lifestyle markets and regional areas set to outperform through 2026. The Australian housing market heads into 2026 … Read more
Older homes have a charm and character that modern builds often can’t replicate, but when summer arrives, they can present unique challenges. From heat retention to ageing fixtures, preparing an older home for the warmer months requires a thoughtful and practical approach. With the right maintenance and upgrades, you can … Read more