Today’s decision by the Reserve Bank to cut interest rates by 25 basis points brings rates to an all time record low of just 2.0 per cent. This is great news if your in the market for an investment property or looking to reduce your existing debt.
As Melbourne property sales are heating up, now is the time to consider getting into the market or adding to your portfolio. As part of any financial assessment you need to take account of allowable depreciation to assist your cash flow. Talk to the depreciation experts at Abbcon Associates before you buy.
Glen Stevens Governor of the RBA says “The global economy is expanding at a moderate pace, but commodity prices have declined over the past year, in some cases sharply. These trends appear largely to reflect increased supply, including from Australia. Australia’s terms of trade are falling nonetheless.”