Good news: It’s a very positive time to get into the housing market!
Firstly, according to the Reserve Bank, interest rates are likely to stay at historically low levels for the next three years.
The prediction came from Reserve Bank governor Philip Lowe after the RBA board decided on 6/4/2021 to keep the cash rate at a record-low 0.10%.
Governor Lowe said in a statement there would be no increase to the cash rate until inflation (currently at 0.9%) is sustainably within the target band of 2-3% – which is not expected until at least 2024.