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ISCOVER
Staff Reporter
There’s never been a better time to buy property, according to Aussie executive chairman and founder John Symond.
Mr Symond believes that the Reserve Bank of Australia’s (RBA's) decision to cut rates by 0.25 per cent yesterday should help business and consumer confidence, and makes buying a property a very attractive proposition.
“The larger than expected deficit coupled with a slow recovery overseas has meant the RBA needed to cut rates to encourage consumer confidence, and this cut coupled with already low rates and low property prices should positively impact people’s ability to get into the property market or even consider an investment property,” he said.
“It’s good to see property prices gradually moving upwards, but house prices are near the bottom, and it’s still a buyer’s market. This, coupled with government incentives to boost the building industry and stimulate the property sector, means that there’s also a great opportunity to consider a house and land package at a competitive price.”
Mr Symond said some economists believe there will be more rate cuts over the coming 12 months and, as such, low rates will be enjoyed for a bit longer.
“Those ready to purchase have some excellent opportunities to do it now,” he said.
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