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Low interest rates could be around for a while longer

By James Brown

The low cash rate environment has given some buyers of property in Burpengary East the extra push they need to enter the market – and it could be around for some time yet.

Responding to the latest inflation data, the Housing Industry Association (HIA) explained that there is every chance that low interest rates will remain in place for the foreseeable future.

Senior economist at the HIA Shane Garrett explained that the headline rate of inflation fell 1.7 per cent during the three months to December, making it the lowest since mid-2012.

"Fewer price pressures in the economy mean that a policy of very low interest rates is both justified and necessary," noted Mr Garrett.

"This is against the backdrop of below trend economic growth and unemployment persistently above 6 per cent."

The Reserve Bank of Australia has maintained the official cash rate at an all-time low of 2.5 per cent since August 2013 and it is fast approaching its longest ever period of stability.

If you're still yet to make the most of the situation, get in touch with a real estate agent in Burpengary to help narrow down your options and find the home you've always wanted.

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