At its final meeting for 2017, the Reserve Bank of Australia (RBA) decided to keep the official cash rate unchanged at 1.5 per cent. The RBA next meets in February 2018.
The good interest rate news for property owners and buyers looks set to continue into 2018. In its Statement on Monetary Policy released in mid-November, the RBA indicated that:
- Keeping the cash rate low at 1.5 per cent will support more growth in the economy.
- Property investment is expected to remain at a high level over the next couple of years.
- Housing supply will continue to expand at an above-average rate, which could weigh on housing prices and rents in some markets.
Happy Festive Season & New Year!
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