No Change In Cash Rate Encourages Buying

Australia's official cash rate remains at a record low, presenting opportunities to buy real estate in Bentleigh East, Malvern East and Carnegie.

The Reserve Bank of Australia (RBA) made the decision to keep the cash rate at a stable 2.5 per cent, with RBA Governor Glenn Stevens issuing a statement on April 1. 

Solid expansion in housing construction is anticipated, which is ideal news for buyers looking to secure Carnegie real estate, given the by-effect of making housing more affordable. 

Australia's monetary policy is still "accommodative" according to Mr Stevens.

Opportunities for buyers

A low cash rate means lenders are still able to obtain affordable mortgage products, which is ideal news for families, couples and individuals looking to secure a loan to purchase Melbourne real estate. 

The RBA expects that the cash rate will remain low for some time, with Mr Stevens indicating stability for a while yet. 

With regards to the wider Australian economy, sustainable growth is expected. 

With interest rates remaining low, those considering purchasing property in the Victorian capital should consult an expert. 

Ray White Carnegie's Matt Hurlston is an agent with intimate knowledge of thriving Melbourne suburbs such as Bentleigh East, Malvern East and of course, Carnegie. Get in touch with him today to secure the ideal property for your needs.