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Official cash rate sees further cut in May

By Louise Morrin

After reaching the historic low of 2.25 per cent in February, the Reserve Bank of Australia made another cut to the official cash rate earlier this week. 

The cash rate has been dropped to two per cent, which could be a significant aid for potential buyers to pursue their own real estate in Carlton

Housing Industry Association economist Geordan Murray said the decision was expected and could be great for further market stimulation in the coming months. 

"New home building has been amongst the strongest performing sectors in the economy and the low interest rate environment has certainly played a role in boosting industry activity," said Mr Murray in a 5 May statement. 

"Looking beyond residential building, today's rate cut will provide the support necessary to reignite business investment more broadly." 

As the nation's housing supply continues to grow and boost the economy – alongside further population growth – the possibility of beginning or expanding an investment portfolio in Sydney could be enticing for buyers in the market. 

If you're interested in looking into the options available, get in touch with a real estate agent and start investigating the local Carlton neighbourhood today. 

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