The Reserve Bank of Australia’s announcement of a rate reduction is always fantastic news for the property industry, according to Ray White Group chairman Brian White.
“This will give everyone confidence that we will have a more certain winter market than some commentators were suggesting,” Mr White said.
Principal of Ray White Lidcombe, Steven Duong says “it will deepen the current enthusiasm of open-for-inspection attendees, looking to buy in the near future.”
The Ray White monthly result of $2.44 billion in April, some 18 per cent up on last year, suggests a stronger lead into winter than last year.
The RBA today has cut interest rates to a 53 year low.
It has has avoided reaching one of the longest periods of interest rate inactivity since the GFC by cutting the official cash rate by 25 basis points.
Ray White Lidcombe would like to invite you to our next Public Auction onsite at 8 Dewrang Street in Lidcombe at 1pm this Saturday 11th May to experience the post interest rate cut effect yourself.