RBA sets first cash rate of 2021
The Reserve Bank of Australia (RBA) has announced its first cash rate decision of 2021.
Although expected, the RBA has held the low rate at its 0.1%, which has been the case for the last three months.
The RBA will be monitoring the economic data focused on unemployment, property prices and consumer spending. If these three areas all show a rebound, then there is likely to be an increase.
Don't get complacent about current rates, as they may just move without much notice. Record volumes of loans are being processed and Lenders just may slow things down by way of increasing rates slightly.
Joondalup Home Loans says, “It’s is financially critical to ensure you get a very competitive interest rate while you can.
Contact Joondalup Home Loans, an experienced mortgage broker to make sure you are getting or have got, the best deal.
According to Domain Perth's residential rental rates hit their highest in fives years. The house median rental rate increased 6.3 per cent in the past three months since December. The average rental amount has jumped to $420/w, whereas unit and apartment prices jumped to $350/w, a 2.9 per cent increase.
With demand under pinning the increase and pent up demand for accommodation driven by interstate migrants and returning WA citizens, it is anticipate these increases will continue for some time yet.
As a result we expect an influx of Investor's returning to the Perth residential investment sector pushing pricing up. Based on current data, we expect a run on Perth property over the next 2 years at a minimum.
If you have any questions regarding a home loan or wish to become a Property Investor, please call Joondalup Home Loans, Mortgage Broker Joondalup.