For the seventeenth consecutive month, the Reserve Bank of Australia (RBA) has decided to retain the official cash rate at 2.5 per cent, which could be great news for those looking to buy Belconnen real estate in the near future.
RBA Governor Glenn Stevens said these figures have remain steady due to the strength of the national economy. As these financial levels remain steady, keeping the cash rate at the current level is anticipated to remain.
Housing Industry Association Chief Economist Harley Dale said there were no signs that this rate could be increased in the near future, which offers low interest rates for potential property buyers across the nation.
"We remain of the view that the official cash rate will be on hold until well into 2015 and that will help sustain the strength in national new home construction activity. This sector is a very important driver of domestic economic activity," said Mr Dale in a 2 December statement.
Now could be a great time to get in touch with a local real estate agent and begin working towards securing your own home in the Belconnen community today.