Ray White Maroubra

What’s happening in our market? Amidst the Reserve Bank of Australia’s (RBA) March decision to keep the cash rate at 1.5% for a record 19th month in a row, Ray White Maroubra continues to experience strong house sale prices, despite the press around a declining market. This is the longest period in history that the cash rate has remained unchanged; the last time was back in 2013-14 when it held for 17 consecutive months. It’s the broadly held view of many economists that the low rate is supportive of positive business conditions, and the RBA will leave it at 1.5% for some time yet. According to Ben Kingsley, chair of Property Investment Professionals of Australia (PIPA) and reported in Your Investment Property Magazine, with strong economic growth forecasted for 2018 and 2019, the Reserve Bank is likely to push the cash rate higher. Regardless, it’s a fact that interest rates are currently sitting at record lows and will remain lower for a period to come. In other news, we’re delighted that Ray White has just been awarded the Reader’s Digest ‘Quality Service Award’ for exceptional customer service, as voted by Australian consumers. According to Reader’s Digest, companies that receive this award have gone above and beyond their customer’s expectations. To experience the Ray White difference for yourself, get in touch with us for an obligation free appraisal today. Philip Elmowy Director 0425 285 444 Anthony Vella Director 0412 232 904