The Australian Economics Weekly published last Friday by the ANZ Bank reports that the RBA is not expected to raise interest rates before early 2012 due to slowing growth in the economy, particularly jobs growth. In fact a possible interest rate fall has been factored in by the markets.
Rapid Realty welcomes the forecast reduction in interest rates. It stimulates buyer enquiry in the property market. A sustained reduction in the cash rate could see broader buying activity as households adjust their financial risk appetite and adopt a more confident outlook. Buyers should keep an eye on the interest rate scenario to detect a trend indicator for the inevitable return of positive growth in property demand.
With a predicted rebound in economic growth in 2012 of 3.3% from the current growth pattern of 0.9%, Townsville's Real Estate buyers and investors may have 6-12 month window to make their property investment decisions if maximising capital growth opportunities is the investment driver for buyers.
To stay in touch with the Townsville Property Market, contact one of our licensed agents at www.rapidrealty.com.au