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Potentially low interest rates as inflation dives in December quarter

By Louise Morrin

Australia's inflation rate saw a drop in the December 2014 quarter, which could be wonderful news for anyone interested in taking out home finances and pursuing property in Carlton. Housing Industry Association senior economist Shane Garrett said the drop could result in retained low interest rates – perfect for those looking into mortgage options in the near future. 

Inflation dropped to 1.7 per cent over the quarter, reaching the lowest point since mid-2012. Mr Garrett said big drops in oil prices could have contributed to this, which would make a policy of low interest rates not only justified but recommended. 

Furthermore, he said land costs over the last year have had a considerable effect on the growth of dwelling values, with underlying issues of supply and planning needing to be tackled in the coming months in order to improve housing affordability. 

As the nation continues to grapple with these economic changes, the potential for retained low interest rates could spell good news for potential homebuyers in the near future. Now could be the time to get in touch with a local real estate agent to start investigating the property options in your local community today. 

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