The Real Estate Institute of South Australia (REISA) says it is not surprised that the Reserve Bank of Australia (RBA) has decided to not make changes to the interest rates again.
On Tuesday (September 4) the RBA decided to hold interest rates at 3.5 per cent for another month.
REISA president Greg Moulton said the institute expected the RBA to wait to see what the impact of the previous interest rate cuts has been before making further changes.
"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."
He said the REISA is hoping there will be further interest rate cuts towards the end of the year "to really kick-start the market again", Mr Moulton commented.
He acknowledged that housing is a large expense for South Australians and it did not matter if they are renting or own property, because they are still feel the impact of interest rates.
"When interest rates start to ease, we see more people looking to buy, which includes investors and owner-occupiers, so the impact is felt in all property sectors," he said.
Housing Industry Association chief economist Harley Dale said: "The RBA has left the door open for further interest rate cuts, but the degree of conjecture and uncertainty around whether such action is taken will continue largely unabated following (the September 4) announcement."
