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The property market is seeing its strongest investment fundamentals in decades, according to a property investing group.
The interest rate cut is a call to action for first time investors and more experienced buyers, said Aviate Group managing director Neil Smoli.
“The Reserve Bank’s decision should help improve sentiment and inspire confidence from the investment market,” Mr Smoli said.
“What this decision also does is further improve what were already opportune market conditions for investors, be they first time or more experienced investors.
While interest rates should not be a sole reason to invest, he said, when considered in concert with other factors they can make investing even more attractive.
“In the current market, historically low interest rates combine with flat price growth, strong rental yields and encouraging job market figures to present perhaps the most attractive conditions for investment seen in Australia in decades,” he said.
“While much depends on a potential investor’s individual circumstances and even their personality traits, for those with job security and discretionary income available, a well researched property investment at this point in the cycle could unlock powerful long term gains.”