Sell with Confidence
Read More
News

Housing Affordability Increases Following Cash Rate Cut

By Adrienne McTavish

Housing affordability is at its best level since December 2009, following the Reserve Bank of Australia's (RBA) decision to further reduce the cash rate yesterday (August 6).

The RBA provided mortgage relief to homeowners throughout the country when it cut the cash rate a further 0.25 basis points, reducing the cash rate to a historically low 2.5 per cent.

According to Peter Bushby, president of the Real Estate Institute of Australia (REIA), housing affordability will increase by 4.7 per cent in the wake of the reduction, with the proportion of median family incomes required to meet average loan repayments decreasing from 29.9 per cent to 28.5 per cent.

"The average loan repayment would be $463 per week and that is $149 per month less compared to the figure recorded a year ago," said Mr Bushby in a statement released August 6.

"This is the best level of housing affordability since the December quarter 2009 and will be welcomed by investors who have been returning to the market in greater numbers over past months."

If you're investigating houses for sale in Bulimba, now could be the perfect time to secure your home loan finances and make the move. Contact the team at Ray White Bulimba to get professional advice and begin your property search today!

Up to Date

Latest News

  • First Impressions

    Like a first date, you only have about 5 seconds to make a good first impression. Also like dating, buying is a sensory experience. Looks, smells and sounds all matter. But let’s separate from the analogy now. It’s important before you put your property on the market that you give … Read more

    Read Full Post

  • Prestige Property Auction Event

    BRISBANE’S MOST EXCLUSIVE PRESTIGE PROPERTY AUCTION EVENT On Saturday the 5th of December, at Brisbane’s amazing Calile Hotel, we are going to be holding a prestige property auction event. This will be the most exclusive auction event ever to be held in Brisbane! The event has already attracted national and … Read more

    Read Full Post