Summer is finally here and property purchasers and vendors are coming out of the woodwork and are eager to move! The Reserve Bank announced a further drop in the OCR (official cash rate) to 4.25%. With the warmer weather and drop in the OCR we should see a positive increase in activity within the property and business sectors. The lowering of interest rates is a perfect time for property owners to refix their loans, for first home buyers to look at getting into the property market and for current homeowners to consider investment properties. The lower interest rates can however affect property prices. With Banks willing to lend more, investors interested in buying and people willing to borrow more, property prices may start to increase. If you are looking at making a change to your property portfolio or getting your foot on the property ladder, the time is now!
If you are looking to move on to or along the property ladder, please contact Ali Dymond who heads up our Property Team.