As interest rates remain on hold the news is positive for those looking to boost their investments and build their private wealth.
The Reserve Bank ‘has been buoyed by hard evidence the global economy has decisively entered a lasting expansionary phase, which will ultimately increase the central bank’s scope to reverse official interest rate cuts blamed for the overheating Sydney and Melbourne property markets’ reported the Australian Financial Review today.
Governor Philip Lowe emphasised positive developments and noted above average consumer and business sentiment with a rise in investment spending and household consumption.
As several Australian locations were recently tipped to be one of the most sought after areas to reside worldwide, property is the most likely investment for those looking to build their portfolios with reported returns of up to 19% over the past five years and record low interest rates on mortgages. Conditions are still positive for people wanting to invest and who are in a position to get into the market while the rates are low and they can lock in a great fixed interest rate.