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Cash rate drop offers more affordable mortgage rates

By Louise Morrin

The coming months could offer prospective property buyers a great chance to secure real estate in Carlton, especially following the official cash rate decision announced in February by the Reserve Bank of Australia (RBA). 

After being reduced to the all-time low of 2.25 per cent, the RBA decided to maintain this figure for another month in April. While there are prospects of further cuts, CoreLogic RP Data's head of research Tim Lawless said the current cash rate environment – if embraced fully by banks – presented the lowest mortgage rates seen in Australia since 1968. 

He said the response from buyers to the cuts over the last month has "re-energised" the market, with a lot of this growth focusing on the Sydney and Melbourne markets. Furthermore, the RBA has stated a commitment to looking into the framework surrounding housing regulation – potentially leading to reduced red tape and greater support for new developments in the future. 

This could be wonderful news for both buyers and sellers in Sydney, as the market continues to evolve and grow in the face of improving credit options. If you're interested in securing real estate in Carlton, be sure to get in touch with a local real estate agent to discuss the options available today. 

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