Those sitting on the fence about purchasing Belconnen real estate could have an incentive to purchase property in the coming months. A recent release from the Australian Bureau of Statistics reported that inflation during the March quarter remained within the Reserve Bank of Australia's (RBA's) threshold.
Following the historic drop in the nation's official cash rate back in August – where it was reduced to 2.5 per cent – there were falls in interest rates, allowing for more competitive home loans to be acquired by Australian residents.
With the inflation rate remaining in a safe level, Housing Industry Association Senior Economist Shane Garrett said the result will help to further the recovering residential property market.
"The latest inflation data will support the RBA's position of maintaining interest rates at record low levels. The bottom line is that interest rates are likely to remain at very low levels for some time to come," said Mr Garrett in an April 23 statement.
"This is good news both for existing homeowners and for those considering purchasing their home."
Now could be the perfect time to get in contact with a home loan lender to secure a great mortgage deal and secure Belconnen real estate for you and your family.