The official cash rate has remained at 2.5 per cent, confirming the thoughts of many across the real estate industry. This could be great news for anyone interested in purchasing property in Carlton over the coming months.
With the levels of growth being experienced across the nation in recent months – including the rises in housing approvals and financing levels – many expected the cash rate to remain at the historically low level of 2.5 per cent, after being dropped back in August 2013.
Housing Industry Association Economist Geordan Murray said there were predications that the level would remain consistent for a "sustained period of time".
"While noting the domestic economic growth has been below-trend, the RBA statement suggests the Board's confidence has been buoyed by positive developments in the household sector, most notably the strong leading indicators for residential construction," said Mr Murray in a May 6 statement.
This could signal a great chance for first home buyers and experienced investors alike to investigate the local property market in Carlton and work towards their own home goals in the long run. Get in contact with the team at Ray White Carlton to discuss the options available to you.