Sydney 4 August 2015: The Reserve Bank of Australia has kept interest rates steady at 2.00 per cent at its August board meeting.
REINSW President Malcolm Gunning said low interest rates were continuing to help boost the property market.
“There has been great activity across Sydney and NSW since interest rates were cut earlier this year.
“Property buyers are using these record lows to their advantage and as long as they factor in future interest rate rises, now is a great time to upgrade, enter the market or invest,” Mr Gunning said.
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.
The RBA will next meet on Tuesday, 1 September 2015.