The Reserve Bank of Australia made the decision to leave interest rates steady at 2.00 per cent at its June board meeting. 

Despite record high property prices, now is a great time to invest in the property market because these highs are being complemented by record low interest rates.

People should not be afraid of the current conditions and those who are already on the property ladder can use this opportunity to upsize or downsize. 

However, now more than ever it is time for the NSW government to reinstate first homebuyer grants on existing properties to ensure that they are being given a far go and give back some of the high revenues they are earning from the property boom. 

The official cash rate has fallen 275 basis points since November 2011, with the RBA cutting interest rates twice in 2013 in May and August and at its February and May meetings this year.