Homes on the Sunshine Coast have just become more affordable as of today, 4th December 2012, with the Reserve Bank of Australia (RBA) lowering interest rates by a further 0.25% to 3.0%.
Strategic in their timing, we believe the latest reduction will initially boost confidence in the much needed retail sector by promoting spending ahead of the traditionally busy Christmas period.
Over the last 3 months; contrary to financial commentary; the local residential property market has been buoyed by a rise in turnover, this ‘good feeling’ noticeable by the frequency of SOLD stickers lining local streets.
This ‘good feeling’ is expected to translate into the retail sector and further promote retail spending throughout the months of December and January.
As it stands, the RBA have decreased interest rates on 12 separate occasions since a height of 7.25% in March 2008. Following today’s drop, the cash rate now stands at an even 3.0%.
To put this into real terms, for the average home loan of $300,000 this further reduction creates a saving of $62.50, and a monthly repayment sitting at just $1842.26, all based on a 5.5% interest rate.
Opinion piece – Dan Sowden | Ray White Maroochydore Principal & Chief Auctioneer As they say, “Patience is a virtue” and there is no exception when it comes to selling your home. And while it’s no secret the current strength of the market means homes are selling faster than we … Read more
67 Mount Eerwah Road, Eerwah Vale Sold by Natalie Tink for $950,000 on 29 January 2021 When agent Natalie Tink listed the eclectic rural property at 67 Mount Eerwah Road, Eerwah Vale, she knew the interest would be high, what she didn’t realise was just how high and how … Read more