It’s been over a year that the interest rates have been pegged to a record low 2.5%, yet Reserve Bank Governor Glenn Stevens is convinced that investment levels have yet to reach their full potential, calling the current levels “below par” at a recent announcement at the House of Representatives Standing Committee on Economics.
Banks have been more than willing to lend – a positive indication that more activity is expected from the property sector. Despite a high unemployment rate, the current net worth of households have increased by $120,000 over the past 2 years. Mr. Stevens describes the housing sector “strong” with “robust prices” making it an ideal investment choice.
Read more about this on the Adviser website.