At its May meeting today, the Reserve Bank of Australia (RBA) decided to keep the official cash rate at 1.5% – despite speculation from economic analysts that there may be at least one, or possibly two RBA rate cuts by the end of this year. However, it seems the RBA has elected to wait until after the Federal Election before making any moves. Meanwhile, the housing price correction continues with all property markets showing falls during April except the ACT, creating some great opportunities for those in the market to buy a home.
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Property Market Snapshot