First home buyers who will enjoy the benefits of less stamp duty, at a time where we’ve had easing house prices in Darwin and historic low interest rates.
Housing affordability may be turning, says Moody's
Though housing affordability deteriorated in the year to March, it improved in the last quarter and could improve further following the recent rate cut.
The 0.25% cut in official interest rates by the Reserve Bank yesterday should see renewed activity from property investors, up graders and first-home buyers according to Shane Kempton, CEO of Professionals Real Estate Group.
These have been confusing times for borrowers with banks lifting rates outside of the RBA’s deliberations and this looks like being the new normal going forward.