Well, interest rates have risen again. This month’s rate rise was disappointing for many property owners and for those currently searching for a new home or investment property. However, there was no huge collective groan from the market place, no real raising of voices, no real upheaval and definitely no pull-back from buyers.
The reason being of course, that the last rise in rates and the couple previous have been well flagged by the Reserve Bank and media outlets. All lending institutions well and truly factor these rate increases into their calculations. Having said that, keep your eyes and ears close to the media for the next possible rise. The REIQ holds a firm view that all property owners and buyers should factor and future increases into their decision making. That way, no one is taken by surprise and placed in a difficult financial position.
Source: REIQ update, Sunshine Coast zone chair Brett Graham