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OCR remains unchanged

Conditions remain in your favour if you're hoping to buy property in Bulimba, as it's been announced the official cash rate (OCR) will remain low for another month at least.

The Reserve Bank of Australia (RBA) met on 2 December and decided that conditions weren't quite right in the Australian economy to justify changing the OCR.

While this won't come as good news to some sectors, it means that access to affordable home loans remains on the cards for anyone yet to enter the property market.

Governor of the RBA Glenn Stevens explained that growth is moderate in the domestic economy at the moment, so every effort must be made to ensure this trend continues.

Changing the cash rate could upset the economic balance, which is why the RBA has decided it's best to keep it at 2.5 per cent for a while longer.

If you've yet to take advantage of the low cash rate environment, make sure you speak to the team at Ray White Bulimba for professional advice you can trust.

We're on hand to guide you through the property buying process and ensure you find real estate in the area that ticks all the right boxes.

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