There may be another rate cut in coming months: Aussie John Symond

There’s never been a better time to buy property.

The Reserve Bank of Australia’s decision to cut rates by 0.25% today should help business and consumer confidence, but makes buying a property a very attractive proposition.

The larger than expected deficit coupled with a slow recovery overseas has meant the RBA needed to cut rates to encourage consumer confidence, and this cut coupled with already low rates and low property prices, should positively impact people’s ability to get into the property market or even consider an investment property.

This, coupled with government incentives to boost the building industry and stimulate the property sector, means that there’s also a great opportunity to consider a house and land package.

It’s good to see property prices gradually moving upwards, but house prices are near the bottom, and it’s still a buyer’s market.

It is worth talking to a mortgage broker like Aussie to see what savings you could make and what grants you are entitled to, because this rare combination of positive elements will not be aligned forever.

There may be another cut in coming months and a few economists are predicting the coming year to bring our lowest rates ever. Either way I am confident low rates will be enjoyed for a bit longer, and those ready to purchase have some excellent opportunities to do it now.

John Symond is the Aussie executive chairman and founder.