Tags: first home buyers
RBA decision bodes well for Australian property market
February 5th, 2010The Reserve Bank of Australia on Wednesday made the decision to hold an interest rate rise. This is a welcomed reprieve for the real estate industry, and will be appreciated by many families and businesses.
Due to previous rate rises, banks have increased their interest rates by several points over recent months.
Glenn Stevens Governor of Monetary and Policy Decision said since information about the early impact of these increases is still limited. The Board judged it appropriate to hold a steady setting of monetary policy for the time being.
Managing Director of Harcourts International, Mike Green, said to ensure the market is able to withstand further increases in the future, the RBA needed to make the decision they did.
“It would have been premature to count our economy strong enough to endure four rate rises in less than six months.
“This has already been reinforced by the weaker retail sales figures for December, which…
Investors return to Australian market, remain active in NZ
November 30th, 2009First home buyer activity is starting to decrease across Australia but investors are returning to the market there and remain active in New Zealand, according to Harcourts International Managing Director Mike Green.
Mr Green says that in Australia this year most activity has been from first home buyers taking advantage of the Government’s First Home Owners grants and boosts, as well as low interest rates and the best housing affordability in several years.
“With the First Home Owners boost decreasing and interest rates climbing a little first home buyer activity is slowing down, but the Australian economy is improving and there is increased confidence from investors who are slowly returning to the market with all price brackets becoming more active,” he says. “This is good news for the Australian rental market as more opportunities should be provided for renters who are struggling to find properties due to the current low vacancy rate.”
Meanwhile…
