The RBA has cut the cash rate by 25 basis points to 2.5%, in his statement about the Monetary Policy Decision, Governor of the RBA, Glenn Stevens, said: “The easing in monetary policy over the past 18 months has supported interest-sensitive spending and asset values, and further effects can be expected over time. The pace of borrowing has remained relatively subdued, though recently there are signs of increased demand for finance by households.”
Mortgage Choice head of corporate affairs, Belinda Williamson commented in an article in Australian Broker Online that in light of the cash rate cut, the message for homebuyers and investors is clear – while business confidence, unemployment concerns and even political uncertainties in relation to the upcoming election simmer, the bottom of the current property market cycle would appear to have passed. This, combined with low interest rates, means buyers and sellers alike can look to capitalise.
According to Williamson: “Now is a great time for clued-in and prepared buyers to consider entering the property market, to get in ahead of the rising trajectory of property prices and to take advantage of the historically low interest rates. At the same time, sellers should heed the cash rate cut as a signal to spruce-up their property now in the lead up to the spring selling season.”
Perhaps it is a good time for you to reach out to your prospect list. Offer them a free appraisal on their property, or send send them a suburb statistics report along with a branded Recent Sales report to give them a better understanding of current market conditions in their local area.
If you need a refresher on how get the best out the rp.professional property system, book free training today. Alternatively watch a quick video on creating custom reports, then log in to rp.professional and start generating branded property reports to add value for your clients. For more information call us on 1300 734 318.
Source: Australian Broker Online