Keeping an eye on the economy is one way to get a good idea about whether now is a good time to buy Belconnen real estate. There are a lot of different factors to consider, but if the official cash rate remains low, you can be fairly confidence that low interest rates will follow.
If you're interested in buying property, now could be a great time to pursue this. The latest announcement from the Reserve Bank of Australia has stated the decision to retain the cash rate at the historically low level of 2.5 per cent for another month could be great news for anyone with the inkling to purchase real estate in the near future.
Housing Industry Association Chief Economist Harley Dale said the decision was expected by many industry bodies, with the choice working to help support healthy market growth.
"That interest rate outlook is supportive of healthy levels of new residential construction activity throughout 2014/15," said Mr Dale in a 2 September statement.
"That is a tick in the box for the Australian economy – new housing is a clear bright spot for domestic demand and it needs to continue to shine."
Now could be a great time to get in touch with a local real estate agent to discuss the property options available to you.