Cash Rates on Hold: It’s Time to Buy

With the question of when to buy or invest in a home constantly up in the air, some people can be left wondering what to look for when making the decision for themselves and their families. For those on the fence, debating whether to buy a house or not, there is good news that may help sway your opinion. The cash rate right now is at an all-time low and to make matters better, it has been put on hold for the time being. These conditions make now the perfect time to buy a new home.

Hold It

The cash rate is currently at a record low and is being held at that rate. Recently, the Reserve Bank of Australia (RBA) has decided to maintain its lock on the current low cash rate of 2.5 per cent. This is the seventh month in a row that the hold has been maintained and is notable in response to disruptions in the market.

Though unemployment and other measures have increased slightly, the lock on cash and interest rates is expected to remain for the rest of the year in addition to the previous months of consistent rates.

Cash Rates on Hold

What This Means

What does this hold on cash rates mean for those looking for new homes? In essence, it means that this is the perfect time to consider buying. While the rates are steady and the lowest they ever have been, it would be smart to take advantage of the current situation. Purchase a property now instead of just waiting and risking rising rates, which might occur next year.

The real estate market not only in the Geraldton area but all around Western Australia is expected to receive a boost because of this phenomenon, so it would be wise to buy now to get ahead of other buyers.

Now is the Time

With cash rates at an all-time low and being kept on hold by the RBA, the conditions are just right for individuals and families looking to buy a new home. Lock in now at these low rates and soon you will have the home you want at the lowest rates you may receive for a while.

To learn more about buying homes in the Geraldton area, call (08) 9301 4445.