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 continue to support the momentum of the property market.
"Today's decision sends a positive signal to markets that debt will continue to be cheap in Australia for the time being," said Century 21 Australasia Chairman and Owner, Charles Tarbey.
"This message may encourage further investment in the economy and borrowing for property purchases.
"In turn, this situation should see the heightened activity in the property market continue," said Charles Tarbey.
According to CoreLogic RP Data national auction clearance rates have trended slightly lower in recent weeks but they are still higher than the same time last year and there is also a higher volume of auctions taking place.
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.