Interest rates on hold

This weekend Agent Gareth Lee-Ferrari is auctioning 116-120 Mons School Road, Buderim, a beautiful home in a sanctuary-like setting on 6089m2 in a quiet pocket of Buderim at 11am – this is a wonderful, warm and inviting family home with fantastic alfresco entertaining areas.  Come along to the Auction and take a look.

Our Auctions last weekend generated a lot of interest, 67 Sailfish Drive, Mountain Creek was under contract prior to Auction and we are in post-auction talks with interested parties on the other two properties.

On Tuesday the Reserve bank decided, as widely predicted, to leave official interest rates on hold.  Rates have now been steady since the decision by the RBA in August last year to cut rates to a 60 year low of 2.5 percent.  Although official rates remain on hold, mortgage costs continue to fall as competition amongst banks for market share intensifies in a generally positive environment for home buyer activity.  Talk to AW Money if you are looking for a better deal on your home loan.

Jason Andrew of Jason Andrew Auctioneers, makes this observation: “Whilst the Reserve Bank are almost certain to leave the official cash rate on hold at its Tuesday meeting, more commentators are suggesting rates will move up sooner rather than later. With this state of play, the current conditions may offer the best opportunities for sellers to transact for some time.”

School holidays are just about here already…can you believe that??? Take care on the roads everyone, it’s such a busy time of year, drive safely.