Australia’s central bank has cut the official cash rate by 0.25% to a new record low of 0.75%.
The long-expected move follows months of signals from governor Philip Lowe that the Reserve Bank was prepared to push rates lower to increase employment and lift stubbornly low inflation back into the 2-3% target band.
First home buyers have saved more than a billion dollars in stamp duty courtesy of the 2017 Housing Affordability Strategy, according to the NSW state government.
The report shows that more than 67,800 home buyers have now taken advantage of the opportunity to save (up to) $24,740 in stamp duty when purchasing their first home.
Experienced agents Daniel & David talk everything Real Estate in Wollongong.
It's good news for buyers and sellers alike, as the Illawarra housing market has seen a consistent balance with consumer confidence growing post election.