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Cash Rate Decision Benefits Adelaide Home Sellers

By Brett Pilgrim

Owners of real estate in Adelaide looking to sell should be pleased with the Reserve Bank of Australia’s (RBA) decision to keep the official cash rate unchanged at 2.5 per cent.

By keeping the key rate at an all-time low, home loan borrowers can still take advantage of more affordable mortgage options, increasing the amount of potential home buyers entering the market.

For owners of property in Adelaide, this means a greater pool of potential buyers to choose from, as well as the chance for home prices to rise based on higher demand.

In fact, the increasing value of property was highlighted by RBA Governor Glenn Stevens in his statement regarding the cash rate announcement.

“Monetary policy remains accommodative,” Mr Stevens said in his February 4 statement.

“Interest rates are very low and savers continue to look for higher returns in response to low rates on safe instruments. Dwelling prices have increased further over the past several months.”

With interest rates expected to remain low for the foreseeable future, property owners can take heart knowing the interest rate environment is likely to spur on home buyers.

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