With spring traditionally being a busy time for the real estate market, it was good news all round for home buyers with the Official cash rate being unchanged for the 13th month in a row!
Conditions in the global economy are continuing to improve. The Reserve Bank of Australia avoided temptation and decided not to follow other developed economies and increase their rate due to continued concerns around low wage growth and the impact of rising power prices.
The low level of interest rates is continuing to support the Australian economy.
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