Low interest rates are a great sign that moving into a particular real estate market could be a great move. If you've been considering Belconnen real estate in the near future, now could be a brilliant time to make the move into the market, with the latest announcement from the Reserve Bank of Australia highlighting the retained official cash rate at 2.5 per cent.
This represents the 13th consecutive month the cash rate has been kept at the historically low level and this could do wonders for the continued development of the nation's real estate industry. In fact, Housing Industry Association Senior Economist Shane Garret said the change – or lack thereof – comes as no surprise to many industry bodies across Australia.
"Over the past year, record low interest rates have breathed life into sectors of the economy that had previously been on the ropes. The current climate of low rates offers the strongest hope that residential construction can continue to put the economy back on track," said Mr Garrett in an August 5 statement.
Get in touch with a local real estate agent to begin discussing the residential property options available to you and your family in the local community today.