Ray White sees con­fi­dence in RBA’s rates de­ci­sion

Port Douglas & Mossman Gazette - - FRONT PAGE -

RAY White Group, the largest prop­erty group in Aus­tralia, said the rate de­ci­sion on Tues­day bodes well for the cur­rent state of the prop­erty mar­ket.

‘‘The de­ci­sion by the Re­serve Bank of Aus­tralia to leave the cash rate on hold has been widely an­tic­i­pated since the elec­tion,’’ Ray White Group chair­man Brian White said. ‘‘The strength in the Aus­tralian real es­tate mar­ket, there­fore, has been achieved with­out any con­fi­dence that there would be a de­crease in rates and we be­lieve that this is go­ing to lead to con­tin­u­ing strong mar­ket for the re­main­ing spring months. The pleas­ing thing about the cur­rent mar­ket is the dra­matic loos­en­ing of sup­ply with our of­fices re­port­ing ex­cel­lent stock lev­els that will sat­isfy the de­mand for the rest of the year.’’

‘‘This con­trasts to the tight sup­ply lead­ing up to the re­cent fed­eral elec­tion - a sit­u­a­tion not un­com­mon be­fore pre­vi­ous elec­tions or po­lit­i­cal events.’’

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