Latest RBA Interest Rate Cut
How will the latest interest rate cut by the Reserve Bank of Australia impact property values? Our director Corey McMahon shares his views.
Interest Rate Cut
The Reserve Bank of Australia held its latest board meeting on Tuesday 18th February and have reduced the cash rate by 25 basis points to 4.10%.
Lee Property Valuers & Advisors assessment
Our director Corey McMahon has commented on this rate cut:
“It was somewhat surprising to see the RBA ease monetary policy when underlying inflation is still above the target band of 2-3%.
However, the expectation of a rate cut, and the actual rate cut itself, appears to be creating some level of renewed confidence across the property market in our key service areas of Gippsland, Yarra Ranges and the Mornington Peninsula.
Land tax and the raft of other new state government taxes remains as major impacts on the investment market and in particular holiday coastal regions.
The owner occupier market is continuing to transition into previously tenanted stock. We’ll watch the market closely as always over the coming months to ascertain the real market impact of the recent rate cut.”
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