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No surprises in today’s Reserve Bank decision

4 Sep 12

The Real Estate Institute of South Australia said that the Reserve Bank of Australia are closely monitoring activity right across the economy and after drops earlier this year, they are taking a conservative approach.

“Whilst REISA believes that the market would respond positively to a downward adjustment in interest rates, it is understandable that the RBA want to monitor the impact of the earlier cuts for a little longer,” REISA President Mr Greg Moulton said.

“REISA members noticed a small increase in buyer inquiry levels after rates were cut some months ago, so we know that buyers are very sensitive to interest rate adjustments. What we would like to see, later this year, is further easing of rates, to really kick-start the market again.”

“Housing is a major expense for all South Australians, whether they rent or own a property so interest rates really drive this cost.”

“When interest rates start to ease, we seem more people looking to buy, which includes investors and owner-occupiers, so the impact is felt in all property sectors.”

 

Media comment – REISA President – Greg Moulton – 0418 661 888
Background information – Emma Slape – 0423 88 11 20
 

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