The Reserve Bank of Australia has yet again left the official cash rate on hold at 1.5 per cent.
Interest rates remain at record lows. Considering upward pressure on the cost of funds, it is interesting the major banks haven’t initiated out-of-cycle rate increases which have already been passed on by smaller bank and non-bank institutions in recent weeks. This suggests they are wanting to stay out of the spotlight whilst the Royal Commission into Financial Services is continuing.
Property market conditions have weakened since February this year and are continuing to turn in favour of buyers.
NOW is the time to take advantage of these market conditions and negotiate your next property purchase.
If you have any questions or would like to speak to a Paris Financial professional, contact us on 03 8393 1000.