Rate cut peaks buyer interest

A series of rate drops in 2012 has encouraged potential buyers to jump on to the property ladder, new research has revealed.

According to a new poll by PRDnationwide, nearly 30 per cent of the 300 respondents are looking to buy thanks to the successive interest rate drops.

A further 36 per cent were not enticed into the property market by the reduction of interest rates.

PRDnationwide research director Aaron Maskrey said 7 per cent of respondents had already purchased due to banks lowering their rates, while 29 per cent were waiting for further cuts to interest rates before entering the market.

“The interest rate drops in 2012 have certainly spurred some buyers on who were sitting on the sidelines,” he said.

“I expect even more will enter the property market as rates continue to fall and consumer confidence grows.”

Written by Staff Reporter

Last Updated: 09 March 2022

Published: 16 October 2012