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Low cash rate sets spring season off to a good start

By Louise Morrin

The first week of September brought with it the season of spring and better weather. However, it also led to great financial conditions, too.

At its most recent board meeting on 2 September, the Reserve Bank of Australia once again left the official cash rate untouched at 2.5 per cent. 

Not only does this mean that home loans are still attractive for buyers, but the opportunity to secure a property in Carlton is looking brighter.

Spring is a hot time for the property market, and with things heating up in the Sydney market all year, the next few months could be a stellar period for home buyers and sellers. 

"September, with its warmer weather and good lead in time to exchange before Christmas is traditionally the most popular time of the year to secure a property," said Malcolm Gunning, president of the Real Estate Institute of New South Wales. 

Commenting on the low fixed interest rates on offer, Loan Market chairman Sam White said there "likely hasn't been a homeowner with a home loan that low in 20 years".

Whether it's fixed or floating, interest rates are looking better, thanks to the historically low cash rate. 

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