RBAs decision a good one for the property market

The Reserve Bank of Australia late yesterday made the decision to hold an interest rate rise. I think this was a wise decision, and will be welcomed by many families and businesses.

Due to previous rate rises, banks have increased their interest rates by several points. The RBA is aware of this, and ultimately we haven’t seen the full effects of these raises yet. Therefore, to ensure the market is able to withstand another raise, the RBA needed to make the decision they did today.

The property market currently has consistent momentum, and being a significant industry in Australia, this momentum must be fostered.

Investors are an important part of continuing the market growth and today’s decision will certainly be a positive one for all in property.

Click here to view Governor Glenn Stevens’ statement on the decision.