Most expert pundits would say even Blind Freddy could have seen that interest rates were bound to rise when the RBA met today and although a rate rise of just 0.25% is pretty small, leaving the new rate at 3.25% which is still extremely low, a rise is still a rise.
It hasn't taken long for some in the real estate industry to warn that now would be a good time to buy as a rate rise could see prices increase but is this a real concern?
With Spring in the air as we enter the traditional real estate selling season coupled with the announcement of the recent natural resource contracts and the general belief Australia is moving out of the GFC, Blind Freddy could have a go at predicting the WA Real Estate Market is going to continue to firm up as we move toward the end of the year and he would most probably be on a winner here to. Some believe it already has. Maybe the RBA concur.
There may be any number of good reasons to buy real estate now but the fear of a price rise due to a 0.25% interest rate rise? Well, you tell us...