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Opportunities for Belconnen property as RBA holds official cash rate

By Ben Faulks

The latest announcement from the Reserve Bank of Australia (RBA) has indicated that the official cash rate will remain steady for another month, highlighting the potential for interested buyers in Belconnen real estate to investigate good home loans deals and secure competitive interest rates. 

Following the RBA's decision, governor Glenn Stevens said the growing economy provided enough encouragement for further improvement that changing the cash rate wasn't in the best interests of the nation's development. 

This was seconded by a number of real estate industry bodies, including the Housing Industry Association (HIA).  HIA Economist Geordan Murray said the decision to retain the cash rate at the historically low level of 2.5 per cent could help further foster growth. 

"While noting the domestic economic growth has been below trend, the RBA statement suggests the board's confidence has been buoyed by positive developments in the household sector, most notably the strong leading indicators for residential construction," said Mr Murray in a 6 May statement. 

This could present a fantastic opportunity for potential buyers to enter into the property market over the coming months and secure their own slice of Belconnen real estate. 

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