The February cash rate decision announced by the Reserve bank of Australia earlier this week could be great news for potential investors looking for property in Carlton. After being kept at the low level of 2.5 per cent since August 2013, the official cash rate has been dropped by a quarter of a percentage point to a new low of 2.25 per cent.
Now could be a great time to consider making moves into the property market. A low cash rate often leads to reduced interest rates on home loan products, making it more affordable for buyers to break into their local property market.
Master Builders Australia chief economist Peter Jones said that rebooting the confidence in the economy and ensuring the construction industry remains a strong part of this growth was important for the future of Australia.
"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.
Now could be a great time to get in touch with a local real estate agent to begin looking into the Carlton property options available to you in the local area today.