The record low cash rate is forecasted to remain the same as the Reserved Bank deliberates on the 2.5% cash rate on its board meeting tomorrow.
Expectations for further rate cuts are expected to further boost the property sector. Low interest rates and property demand has caused values to increase by 1.9% last month.
There is a 4% chance of a rate cut in tomorrow’s meeting, with a high of 30% by May of next year. Property investors are advised to proceed with caution as there is a 5% chance of a rate hike by June.
Read more about this on the Sydney Morning Herald website.