Reserve Bank leaves interest rates unchanged at 1 Nov 2016Tue 01 Nov 2016
Today the Reserve Bank of Australia left the cash rate unchanged at 1.50 per cent.
They said that "growth in infrastructure and property construction" was part of the decision." and went on to say that:
In the housing market, supervisory measures have strengthened lending standards and some lenders are taking a more cautious attitude to lending in certain segments. Turnover in the housing market and growth in lending for housing have slowed over the past year. The rate of increase in housing prices is also lower than it was a year ago, although prices in some markets have been rising briskly over the past few months. Considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Growth in rents is the slowest for some decades.
For the full commentary, see the link provided.
This is likely to have little effect on the Queensland property market and the need for Brisbane conveyancing solicitorsRelated Links: Reserve Bank Interest Rate Decision
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