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Reserve Bank holds cash rate steady

By Adrienne McTavish

Whether you are buying or selling property in Bulimba or making a real estate decision elsewhere in Queensland, the monthly cash rate decision is an important one to keep an eye on.

This Tuesday (March 5), the Reserve Bank of Australia's (RBA) Monetary Policy Committee elected to hold the cash rate steady at three per cent.

According to RBA governor Glenn Stevens, several reductions made to the cash rate last year are now beginning to have an impact on the market – and it will still be some time before we can see the extent of the benefits.

Keeping the current rate steady, he explained, allows scope for further action to be taken in line with the nation's economic performance in the months ahead.

In recent months, he noted, there has been a slight increase in property investment – which could signal returning confidence to the market.

"Dwelling investment appears to be slowly increasing, with higher dwelling prices and rental yields," he said.

If you are thinking about making a Bulimba real estate investment, contact the team at Ray White Bulimba today – we can help you through every step of the process.

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