Interest Rate on hold, good for both buyers and owners.

Tegan DeClark

This week’s decision by the RBA to keep rates on hold are helping buyers make the decision to step into the market with a huge number of enquiry over the last week.   Keeping the rates at record lows mean that buyers entering the property market can do so with confidence and owners wanting to refinance or renovate can also enjoy the benefits of the current borrowing rates. 

Many owners are also taking the opportunity to borrow against their property to renovate their property or purchase an investment property.  Real Estate agents are often the first port of call when people are thinking of making changes to their homes or their investment portfolio. 

Tegan DeClark of Ray White Toowoomba echoed the trend.  “Not only have we been seeing more and more sellers cashing in on the current demand, we have also been doing appraisals for people who would like to know how much equity is in their home to possibly refinance, renovate or purchase additional investments” 

Plenty of property owners however are just happy to see continued relief on their monthly repayments.   However, knowing the current value of your property, gives you options says Mrs DeClark “It’s worth doing an appraisal if you’re curious as to what your property is now worth.  Regardless of your plans, an annual appraisal keeps you informed, just in case you ever need to use the equity”

Tegan DeClark is offering free appraisals for Toowoomba home owners, contact her on 0400 262 277 or email tegan.declark@raywhite.com to make an appointment.