September 2023 Cash Rate Update
Spring has sprung, the weather is warming up, and the latest cash rate decision has just been handed down. The Reserve Bank of Australia Board has decided to keep the cash rate on hold for the third month in a row, making the September 2023 cash rate 4.1%.
This is welcome news for Australian homeowners, many of whom are in great need of some respite after enduring 12 variable rate increases over the past 16 months.
In even more positive news for homeowners, national housing values are rebounding due to the combined effects of stronger demand and limited supply. As home values increase, so too does equity. Having more equity in your home generally makes it easier for you to refinance and explore your options.
However, if you’re in the market to buy, be aware that upwards pressure on housing values persists in most regions of Australia, indicating that a new housing cycle may have begun.
So, if you’re looking to purchase property, now might be the time to spring into action. Call our team today to discuss your property dreams, and take the first step towards achieving them.
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