The Housing Industry of Australia (HIA) released a press release this week detailing the Reserve Bank of Australia’s decision to hold the official cash rate steady at 2%.
Dr Harley Dale, HIA Chief Economist, said “Regardless of whether the interest rate gun stays in the rack or not, the key is that super low borrowing costs are here to stay throughout 2015/16. That will help support housing activity at a time when there is scant evidence of strong momentum elsewhere in the domestic economy.”
With such stable conditions forecast through 2016, is now the right time to take the plunge and start the upgrades to your house that you’ve been thinking about?
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