RBA governor says supply key to improving housing woes
Philip Lowe, governor of the RBA, last night said that increasing supply was the key to easing the housing crisis, but tighter lending rules help to put the economy on a more sustainable footing.
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.
