Wow! Did you know it’s been an entire year since we have seen interest rates change here in Australia? Well, its actually now been over 12 months. That’s right! The Reserve Bank of Australia has kept the official cash rate on hold at a record-low 2.50 per cent – marking it well over 12 months since the rate has shifted.

This record-low rate has become a rather big deal in the world of Aussie finance and real estate, and it seems, according to experts, that it’s not on the ‘up’ anytime soon.

What does this mean for the real estate market? What does it mean for you? Simply put, it’s a great time to buy! Current unwavering interest rates and a highly competitive borrowing market are the right ingredients for a buyer’s market - meaning now is the perfect time to purchase a home or investment property.

Get in contact with your home loan provider, remembering to keep in mind when you do so, that you’re quite likely paying too much if your loan begins with a five.

Sure, Australia’s current interest rates are perfect for those looking to buy. However, buyers are not alone. Existing homeowners are on the front foot as well, with record-low interest rates presenting a great opportunity to get ahead on their mortgage.

This is something which many people have already been taking advantage of over the past 12 months – with many experts reporting that up to 50 per cent of home buys are now debt-free.

While the continued low rates may come as good news for many who are still busy paying off mortgages, it’s also really important for homeowners and investors not to overspend. As alluring as low interest rates may be, they can often end up trapping homeowners and investors into making bad decisions.

Sure, you might be building good equity in your property by paying off your loan faster (thanks to the current low rates)… and, sure, the market is indicating that now is a good time to use that built-up equity. However, often homeowners with decent equity can act a little gung-ho – especially at a time when interest rates are at a record low.

This in mind, while it is a good time to buy or invest in property remember to be cautious and not overextend yourself; make sure you’re not buying an overinflated property just because you can afford it.

Want to make the most of the current record-low interest rates by investing in your first home or subsequent properties? Why not speak to the professional team at HS Brisbane Property. For more information or an informal chat about current real estate opportunities in and around the Brisbane CBD, please contact Hannah on 0419 782 133.