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Reserve Bank interest rate decision could set tone for property market

All eyes are on the Reserve Bank’s first interest rate decision for the year on Tuesday after Sydney’s weekend auction market kicked off 2015 with a solid clearance rate from modest numbers. But Saturday’s rate of 70.5 per cent was well below the 80 per cent recorded over the same opening weekend last year (97 auctions this year compared with 93 last year), and also below the 76.3 per cent recorded over the final Saturday of auction action on December 20. Significantly higher numbers of auctions over coming weekends will reveal more fully the underlying state of Sydney’s housing market. Read more: http://news.domain.com.au/domain/real-estate-news/reserve-bank-rate-decision-could-set-tone-for-property-market-20150202-133olz.html?rand=1422842374428

 

DISCLAIMER: This disclaimer is a requirement of the Securities Industry Legislation Act. The writer of this article is not a practicing lawyer or financier. The information, statements and opinions expressed are intended only as a guide as to some of the important considerations to be taken into account relating to property investment. I strongly suggest that you consult with licensed professionals such as accountants, Lawyers, Valuers, Development Consultants, Quantity Surveyors and others, BEFORE signing any contracts or other binding documents.