For the second month in a row the Reserve Bank of Australia have reduced the cash rate to a new record low of 1%. That’s a 0.25% drop from last month. Australia now has the sixth lowest interest rate worldwide.
The RBA slashes the cash rate to 1.25% – It’s time to celebrate! This is the news we’ve been waiting for and as many predicted, today the Reserve Bank of Australia made history by reducing the official cash rate by 25 basis points to a record low of 1.25%.
Today the Reserve Bank of Australia announced they will be cutting the official cash rate by 25 basis points to a new historic low of 1.5 per cent.
Latest reports for the Australian property market have revealed that real estate is entering a new cycle with dwelling values falling across five capital cities during the month of November.
Top 20 most expensive suburbs in Australia. Due to the enormous 11% increase in home values for Australian capital cities over the past year, there are now 437 suburbs across the country with an average property value of $1 million or more.