Positive news for property investors when Glen Stevens, the governor of the RBA described Australia’s property market as “firming”. In previous statements he had described the market as “subdued” or “declining”. Recent data from Riskmart showed increases in capital city house prices of 1% in June – July, may have influenced that decision.
A key statement by the governor that should be noted by all property investors:
“While it is too soon to see the full impact of those (interest rate) changes, dwelling prices have firmed a little over the past couple of months, and business credit has over the past six months recorded its strongest growth for several years.”
These are all positive signs for those getting started in property investment that Australia’s property market is slowly getting stronger.
