Great news for property investors and home owners with interest rates remaining on hold this month. The unchanged rate was expected by most analysts as inflation heads downward toward the RBA target rate if 2 – 3%. The annualised figure was 3.4% over the year to January. 

The RBA is treading very lightly at the moment. They want inflation to come down but they are cautious not to smother the economy and force a recession. 

With rates being on hold for a while now, most experts are predicting that the RBAs next move will be to reduce interest rates in the second half of 2024.

If interest rates do drop this year, property prices will likely surge harder in both Queensland and Western Australia where supply is not meeting up with strong demand. Most clever property investors are getting into the market now to avoid the rush and high prices.