The Reserve Bank of Australia has pointed to the fact that the low interest rates for home loans will continue through 2014, which is good news for many householders.
Head of Harcourts for South Australia Greg Moulton says that the indication from the Reserve Bank governor Glenn Stevens that the low cash rate is not likely to change anytime soon, will end in buoyant real estate sa for 2014. "Maintaining the official cash rate at 2.5% is fab news for speculators, house owners and first house buyers of real-estate SA," says Mr Moulton.
Moulton continues, "A low official cash rate and relative equilibrium in rates enables purchasers to plan in advance and gives certainty to property sa decisions."Moulton goes on to say that a period of steadiness for 2014 will be a boost for buyer confidence, particularly where South Australia property has not been performing so strongly, and stability will keep up the momentum in other real estate SA markets that are already performing well. The governor of the Reserve Bank has to act in the best interest of the Australian economy and by leaving the official cash rate unchanged, the Reserve Bank is providing confidence to real estate sa in the short to medium term.
Moulton claims that by suggesting that interest rates will remain low through 2014 also shows the Reserve Bank is supporting solid activity in South Australia, "The SA property market is intrinsically connected to the local South Australian economy, and particularly the Adelaide economy, due to home business owners drawing down on capital gain from their home and re-investing it into their business. "
The challenge for the Reserve Bank is to balance the good health of the economy with first home purchasers who are trying to get a foot in the door of real estate. Moulton points towards new statistical data out showing that first home purchasers make up just 9.9% of all mortgages issued in February and says that first home purchasers of property sa are still much on the boundary of the housing market, "First house buyers of real-estate are really having to make some compromises or come up with some innovative methods to access capital. "
Moulton claims the stories for first home buyers in Adelaide is that cost is a controversy all over Australia, he claims that the other side of the coin for first home purchasers of real-estate in South Australia is that once they've got a foot in the door of the housing market, then they'll be pleased with property price growth.
Head of Harcourts for South Australia Greg Moulton says that the indication from the Reserve Bank governor Glenn Stevens that the low cash rate is not likely to change anytime soon, will end in buoyant real estate sa for 2014. "Maintaining the official cash rate at 2.5% is fab news for speculators, house owners and first house buyers of real-estate SA," says Mr Moulton.
Moulton continues, "A low official cash rate and relative equilibrium in rates enables purchasers to plan in advance and gives certainty to property sa decisions."Moulton goes on to say that a period of steadiness for 2014 will be a boost for buyer confidence, particularly where South Australia property has not been performing so strongly, and stability will keep up the momentum in other real estate SA markets that are already performing well. The governor of the Reserve Bank has to act in the best interest of the Australian economy and by leaving the official cash rate unchanged, the Reserve Bank is providing confidence to real estate sa in the short to medium term.
Moulton claims that by suggesting that interest rates will remain low through 2014 also shows the Reserve Bank is supporting solid activity in South Australia, "The SA property market is intrinsically connected to the local South Australian economy, and particularly the Adelaide economy, due to home business owners drawing down on capital gain from their home and re-investing it into their business. "
The challenge for the Reserve Bank is to balance the good health of the economy with first home purchasers who are trying to get a foot in the door of real estate. Moulton points towards new statistical data out showing that first home purchasers make up just 9.9% of all mortgages issued in February and says that first home purchasers of property sa are still much on the boundary of the housing market, "First house buyers of real-estate are really having to make some compromises or come up with some innovative methods to access capital. "
Moulton claims the stories for first home buyers in Adelaide is that cost is a controversy all over Australia, he claims that the other side of the coin for first home purchasers of real-estate in South Australia is that once they've got a foot in the door of the housing market, then they'll be pleased with property price growth.
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Harcourts Soutgh Australia offer SA real estate for sale, land and homes for sale, rentals and commercial leasing, rural property sales, lifestyle real estate and business sales right across South Austrailia.
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