The Reserve Bank of Australia (RBA) confirmed today, that the official cash rate will continue to remain at 0.1%. In their media release this afternoon, Governor Phillip Lowe, stated that “the Australian economy remains resilient and spending is picking up following the Omicron setback..[but]household and business balance sheets are in generally good shape”.
In their press release today, the RBA also acknowledged that “housing prices have risen strongly over the past year, although some housing markets have eased recently. With interest rates at historically low levels, it is important that lending standards are maintained and that borrowers have adequate buffers”.
The RBA has consistently stated in recent months that the official cash rate is unlikely to increase until actual inflation is sustainably within the 2 to 3 per cent target range. It currently sits at 3.5% according to the RBA website. The RBA did acknowledge that inflation has increased in Australia, but it remains lower compared to many other countries.
When it comes to big decisions about buying or selling in the current market, a property advocate can help you with every step of the process. At Chamberlain Property Advocates, we are here to help. Call us to have a chat about your real estate plans for 2022.
Looking to buy in Melbourne and sick of missing out at auction? Talk to me about how I can help you buy your new home faster, for less.
Ask about our Home Buyer Search and Acquisition Service, where we do all of the legwork on your behalf to MAKE IT EASY to secure your new home.
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Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
By Wendy Chamberlain
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With a passion for all things real estate spanning 20 years, Wendy loves that her role as a Buyers and Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.chamberlainadvocates.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.
