RBA Decision spurs property sales!

RBA Decision spurs property sales! 01/03/2015

The decision by Reserve Bank Governor Glen Stevens and RBA board to reduce the cash rate at their February 3rd meeting by another 50 basis points to 2.25% has all but cemented the expected property price increases expected in the latter part of 2015.

Reports by the majority of economists and industry analysts predict growth of between 12 to 15% by December this year.

Clearance rates of RRE listings have continued to increase during February with our firm making the second sale of a $900,000 plus property since January 1st.

So in conclusion, the local real estate market in February continued its strong performance and has set the precedence for 2015!