The Reserve Bank of Australia has announced its official cash rate decision earlier this week (December 3), which has been to leave monetary policy where it is for another month.
The reduced cash rate often affects home loans and other interest-sensitive elements of the economy, which usually results in lower interest rates and an increased confidence in the market.
This could translate into good news for anyone considering purchasing residential property in the Gold Coast.
Loan Market Director Mark De Martino said in a December 3 statement that the Reserve Bank made the right decision to help stimulate the industry.
"The property market should continue to recover and set new highs. Investors are carrying the recovery right now but its only a matter of time before we see first home buyers return," said Mr De Martino.
If you're interested in finding Gold Coast real estate, now could be the best time to begin researching the market. Get in contact with the team at Ray White Broadbeach to gain insight into the local market and find the perfect property for your goals.