At its March meeting, the Reserve Bank of Australia (RBA) decided to keep the official cash rate at 1.5% despite concerns about the potential impact of a declining housing market on economic growth. Many analysts are now predicting the RBA could cut rates by up to 50 basis points (half a percent) by mid-2020 if home prices keep falling this year. Meanwhile, the housing market correction is providing plenty of bargains in the Autumn property market, so please ask us to arrange a home loan pre-approval now if you want to take advantage while buying conditions are good.
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Property Market Snapshot