Industry leaders analyse what RBA decision means for real estate market
The Reserve Bank of Australia (RBA) has maintained its record low cash rate at 0.1 per cent, with real estate industry leaders predicting Australia’s hot housing market will start to even out a little in the coming months.
The RBA’s decision shocked few, with economists widely predicting the cash rate, which hasn’t changed since November 2020, would remain steady.
RBA Governor Philip Lowe has repeatedly said the cash rate would not increase until actual inflation is sustainably within the two to three per cent target range.
Dr Lowe said the Delta outbreak had interrupted the recovery of the Australian economy, but the impact had been uneven, with some sectors facing difficult conditions while others were growing.
“This setback to the economic expansion in Australia is expected to be only temporary,” Dr Lowe said.
“As vaccination rates increase…