Comments by Ray White Managing Director Dan White:
“Today’s rate cut to 1.25 per cent by the RBA, the first movement in almost three years, will provide a shot in the arm to the property market and will instill further confidence following the Coalition’s victory in the recent Federal Election,” Mr White said.
“We’ve already seen a noticeable change in the atmosphere in the last few weeks with increased inspection numbers and people more willing to raise their hand at auctions again. We’re also now starting to see early signs of more listing activity.
“Along with the recent Federal Election result, APRA’s policy changes and improved auction activity, this decision gives more confidence to buyers to enter the market knowing that key downside risks have been mitigated.
“Perhaps it’ll now be perceived that the risk of not acting in today's market outweighs the risk of getting into or upgrading in this market.”
