The latest decision from the Reserve Bank of Australia concerning the nation's monetary policy has been to reduce the official cash rate to 2.25 per cent. This new lowcould do wonders for anyone interested in taking the time to move into Bentleigh East real estate in 2015.
Over the last year, the property industry has played a big part in the growth of Australia's economic growth. But as unemployment rises, the need for a lower cash rate to stimulate future growth has become apparent.
Master Builders Australia Chief Economist Peter Jones said this would be good news not only for residential property owners, but also those hoping to build commercial real estate in the coming months – with low interest rates working in their favour to secure funding and start projects across the nation.
"The RBA's decision will benefit the housing market even as residential builders enjoy a solid uplift in activity driven by pent-up demand," said Mr Jones in a 3 February statement.
If you're interested in purchasing property in Bentleigh East, now could be a great time to get in touch with Matt Hurlston at Ray White Carnegie. His expertise can help you make the most suitable real estate decision for your future.