Buying property? Then this blog is for you!!

This blog helps the property buying community to more easily share strategies, stories and helpful tips. It is an open blog. Anyone can join, contribute and invite others to join.

If you would like to talk property, please contact us:
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02 June 2010

Interest Rates on hold .... for now!

The RBA left the official cash rate at 4.50%, after three consecutive increases. The main factors behind the decision were:

* Ongoing uncertainty in global markets due mainly to European sovereign debt issues.
* Decline in the Australian dollar
* Softer global commodity prices
* Residential house price growth and sales volumes have slowed
* Retail sales have remained flat, increasing 0.6% in the month of April 2010.
* Total dwelling units approved declined 14.8% from March to April 2010 (Seasonally adjusted).

Westpac Bank currently forecast that interest rates will increase over the year and reach 5.00% by December 2010.

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