RBA acknowledge growth from First Home Owners market.

Abstract from the Australian:

"The Reserve Bank of Australia (RBA) faces a difficult balancing act in early November 2008 as it sets official interest rates.

The previous announcement in early October had been an unexpectedly large reduction by 1%, in part triggered by the onset of the global financial crisis. However, the underlying economy still appears to be healthy, and the markets are traditionally most volatile in October.

Other factors to take into account are a still comparatively strong risk of inflation, a weakening Australian dollar, and the Federal Government's $A10.4bn economic stimulus package's effect on consumption."

As RBA's economists are factoring the impact of the $10.4bn package in interest rates, it's reasonable for us to expect strong activity in the first home owner market. If that's the case, we expect median houes prices will be on the move over the coming months.

If you're thinking about buying in that price range, talk to your buyer's agent, who will help make it happen for you! Morpheus Property is also offering a first home owners discount of 25% off the service fee of 2.2% (for anyone eligible and applying for the FHOG).

Call 1300 757 586 to talk about your options.

Yours in property!