In Michele Bullock's first act as Reserve Bank governor, the official cash rate remains at 4.1% for a fourth straight month, amidst an otherwise slowing economy. Initially catapulted from a low 0.1% to subdue high inflation, this steadiness signals a somewhat stable investment terrain.
Crucial for potential property investors: a palpable uptick in rents is magnetizing investors back to the property market. Investor loans swelled by 1.6% to $8.8 billion in August, a substantial 13% surge since the year's outset, outpacing the modest 7% growth of owner-occupier loans. Notably, the bureau reports a 7% leap in dwelling approvals in August, signifying more options on the property market horizon, particularly in Victoria and NSW where unit approvals have sharply risen.
In summary, Queensland’s property market, buoyed by steady rates and a noticeable surge in rental demand, awaits investors. Always tread wisely, considering thorough research or professional advice before stepping into the investment arena, to navigate the inherent risks effectively.
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