The Reserve Bank of Australia’s interest rate cut to record lows this week has given a huge boost to South East Queensland real estate buyers. On Tuesday 2nd August the Reserve announced it had lowered the rate by 25 basis points to a fresh low of 1.5 percent.
“At its meeting today, the Board decided to lower the cash rate … effective 3 August 2016,” said Governor Glenn Stevens, adding that the decision to ease monetary policy further had been taken to boost sustainable growth in the country.
The decision is great news for those with mortgages or those looking to get into the housing market, particularly in premier locations such as South East Queensland.
Already named as one of Australia’s “hotspots” in the property market, the region has become one of the most popular real estate hubs for first homebuyers. Those looking to move into the area pinpoint its great climate, proximity to major cities and regional towns, infrastructure and vibrant lifestyle.
The interest rate cut is significant with those on a $300,000 mortgage receiving an extra $50 in the hand, provided they are able to gain the full cut. With more interest rates possible (according to around a third of analysts surveyed by comparison site Finder), the opportunity for zero deposit, full turnkey, quality homes in South East Queensland has never been better.
Interested in finding out more? Contact us to find out how we can help get you into no deposit land and home packages with low interest rates. Our service means you get access to full turnkey (ready to move in) land and home packages, fixed price build contracts with a guaranteed build time and master builders who will help put you in the house of your dreams earlier, and more efficiently than you thought possible.