Century 21, the largest real estate sales organisation in the world, believes the Reserve Bank's decision to hold the cash rate at 1.75 per cent is a prudent decision in light of recent international political and economic events.
"Britain's exit from the European Union has created international shockwaves and markets have been very turbulent," said Century 21 Australasia Chairman and Owner, Charles Tarbey.
By leaving rates on hold, the RBA is sending a strong message to the market that it will continue its accommodative monetary policy stance for the time being.
"This in turn should continue to encourage property market activity and support the Australian economy at large," said Charles Tarbey.
The CoreLogic June Home Value Index results reported a 0.5 per cent rise in capital city dwelling values over the month, taking values 8.3 per cent higher over the past twelve months.
Century 21 encourages potential buyers who are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.
With over 3,000 offices, Century 21 is the largest real estate sales organisation in the Asia Pacific region, a region vital to Australia's continued economic success.
