The Reserve Bank of Australia has ended the year with good cheer and positive news – still no movement on interest rates, which remain at a record low 1.50%.
In mid-November, economics writer, Terry McCrann reported the RBA had painted a very optimistic picture of the Australia economy in its latest assessment and outlook.
He wrote, “it’s one of overall growth picking up and running quite strongly, low inflation, pretty solid increases in jobs and even wages broadly beginning to pick up a bit of pace.”
Low Interest Rates Continue to bring Confidence
Therefore, many of us can feel confident about our future and will consider our options over the summer break. With no movement on interest rates, some investors will be looking as closely at the property market as their Christmas shopping lists.
Adopting a more leisurely pace over the summer break, it could be the ideal time to take stock and possibly spot some unexpected investment gems – perhaps even think seriously about that holiday property you’ve always dreamt of.
And, with 2018 nearly upon us, why not make a head start on your New Year’s resolutions? One we’d highly recommend is a mortgage health check, which could allow you to make big savings by taking advantage of the low interest rates to pay off your loan sooner. Another suggestion is to take the time to look around your home with fresh eyes and think about how you could add value.
Meanwhile, we would like to wish you the very best for the holiday season. With the RBA taking a January break, we’ll return to your inbox in February with more suggestions and all the latest news.
As ever, if you have any questions, we’re here to help.