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.
Tenants are now very meticulous in what they are after, they are taking their time to look around at several properties and put offers in that are lower than the asking rent.
Whether conditions in 2016 translate to greater opportunities for first home buyers remains to be seen, but for the first time in years getting a foot in the door does not seem so insurmountable.
Lower rates are “the new normal” in the post GFC world with consumers now accustomed to them and likely to be highly sensitive to any future increases in rates.
With inflation under control and a moderating housing market, home buyers can expect a stable outlook with the possibility of a further rate interest rate cut.
