Breaking News for Home Owners, Home Buyers & Property Investors

The Reserve Bank of Australia has announced they are reducing interest rates from 2.75% to 2.5%.

Local Raine & Horne, Mannum real estate Agent, Adrian Davis said, “This is great news and will add momentum to the return to home ownership for home buyers and the first home buyers. Lately we have been seeing a surge in residential sales in Mannum with some of these properties being sold to investors.

Mr. Davis also said, “These home buyers are taking advantage of the extremely low prices available now and the low interest rates with  property investors taking advantage of the return in reasonable achievable rents.

Let’s hope the Banks pass this reduction of interest rates on in full as this additional reduction in interest rates will further fuel this home buyer interest and prices may rise accordingly.”

With the forthcoming election due 7th September 2013 perhaps this will combine to bring about more confidence in the Australian economy and home ownership.

Source: Raine & Horne