Ray White Mordialloc

What’s happening in our market? Amidst the Reserve Bank of Australia’s (RBA) February decision to keep the cash rate at 1.5% for a record 18thmonth in a row, RayWhite Mordialloc continues to experience strong house sale prices, despite the press around a declining market. This is the longest period in history that the cash rate has remained unchanged; the last timewas back in 2013-14when it held for 17 consecutive months. It’s the broadly held viewof many economists that the low rate is supportive of positive business conditions, and the RBAwill leave it at 1.5% for some time yet. According to BenKingsley, chair of Property Investment Professionals of Australia (PIPA) and reported in Your Investment PropertyMagazine, with strong economic growth forecasted for 2018 and 2019, the Reserve Bank is likely to push the cash rate higher. Regardless, it’s a fact that interest rates are currently sitting at record lows andwill remain lower for a period to come. In other news, we’re delighted that RayWhite has just been awarded the Reader’s Digest ‘Quality Service Award’ for exceptional customer service, as voted by Australian consumers. According to Reader’s Digest, companies that receive this award have gone above and beyond their customer’s expectations. To experience the Ray White difference for yourself, get in touchwith us for an obligation free appraisal today. Greg Scherwinski Director 0418 108 771 greg.scherwinski @raywhite.com