The latest inflation figures from the Australian Bureau of Statistics (ABS) have highlighted the increasing strength of the nation's economy, as low interest rates have encouraged the uptake of spending across the country.
Figures from the December quarter have found the inflation rate increased 0.9 per cent, with the annual rate resting directly in the middle of the Reserve Bank of Australia's (RBA) target range – the suggestion being unchanging interest rates in the near future.
Housing Industry Association (HIA) Senior Economist Shane Garrett said these figures added to the sentiment that the RBA needs to retain the cash rate at its current, historically low level.
"There is no justification to depart from current settings while inflation is under control and while economic growth continues to be below trend," said Mr Garrett in a January 22 statement.
“It is encouraging to see the rate of housing cost a little below its medium term trend rate."
This could illustrate a great opportunity for those interested in purchasing Belconnen real estate in the near future, with the current state of the economy encouraging the pursuit of property endeavours.