Century 21, the largest real estate sales organisation in the Asia Pacific region, believes the Reserve Bank's decision to keep interest rates at two per cent will likely continue to support the Australian property market in this dynamic time in its history.
"The low interest rate environment has assisted in strengthening the real estate market in many regions over the last three years," said Century 21 Australasia chairman and owner, Charles Tarbey.
"I believe that we may begin to see a wave of growth move from areas that have experienced high levels of growth into outlying locales that have not moved at the same level during this time.
"This wave of growth could open up new opportunities for buyers," concluded Charles Tarbey.
In their announcement, the Reserve Bank noted that although the Federal Reserve is expected to increase rates later this year, other major central banks are continuing to lower rates.
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.