Christies Beach RLA 266739
71 Beach Road Christies Beach
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At today’s board meeting the RBA decided to keep interest rates at 1.50%.
According to a statement by Philip Lowe, Governor of RBA “Supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. Growth in lending for housing has slowed over the past year. Turnover in the housing market has declined. The rate of increase in housing prices is lower than it was a year ago, although some markets have strengthened recently. Considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Growth in rents is the slowest for some decades.”
“the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.”
Click here to read full statement.
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Article posted by Melissa Chaplin