1 minute read

Industry welcomes rate relief

Industry welcomes rate relief

by webmaster | February 02, 2011 | 1 minute read

Industry leaders have supported the RBA’s decision to leave interest rates on hold this month.

by webmaster
February 02, 2011

Real Estate Industry of Australia president David Airey said the Reserve Bank had made the right decision to leave the official interest rate on hold given the worsening state of housing affordability.

Recent research by the REIA shows house prices have  sky rocketed over the last 10 years, with current housing affordability at its worse in a decade.

In addition, the level of income required to meet loan repayments has increased 5.8 percentage points to 34.8 per cent in the twelve months to September 2010.

“Given these figures, the breathing space RBA has provided to home owners is welcome news – we need this respite to continue for the foreseeable future,” Mr Airey said.


“REIA will continue to call on all levels of government to address the issue of supply which is an important component of improving affordability.”

Industry welcomes rate relief
spi logo
share the article

Subscribe to get the latest news and updates - join a community of over 80,000 property investors.

Check this box to receive podcast updates

From the web

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.