The wider economy is an important factor to consider when you're looking to buy or sell property in Australia.
It can tell you a lot about the type of finance available to you for your own endeavours to purchase real estate in Bentleigh.
That's why the Reserve Bank of Australia's decision to lower the official cash rate to the historic low of two per cent on 5 May could be an incentive for anyone who has been weighing up their property options.
Housing Industry Association economist Geordan Murray said the reduction was made to help further support for new housing construction, which is currently at a record high level across the country.
"New home building has been amongst the strongest performing sectors in the economy and the low interest rate environment has certainly played a role in boosting industry activity," said Mr Murray in a 5 May statement.
"Looking beyond residential building, today's rate cut will provide the support necessary to reignite business investment more broadly."
A reduced cash rate could have a big effect on the interest rate you can secure on a mortgage, which could potentially help you save money and shave years off your repayments.
If you're interested in buying Bentleigh real estate in the near future, get in touch with Matt Hurlston at Ray White Carnegie today.