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Interest Rates Remain On Hold

Interest rates have remained steady for the second month in a row, giving owners and investors hope the end is close to the constant rate rises.

The Reserve Bank of Australia held the official rate at 4.1% this month, on the back of inflation figures last week, which showed that price increases slowed more sharply than expected in the year to June.

Inflation still remains at 6%, so it is unclear if further rate rises are on the horizon. Many economists believe there are still a lot of mortgage holders who have not been impacted by the rate rises yet as they are still on fixed-interest loans.

Rate rises by the RBA have done little to dampen property prices, which continue to rise.

CoreLogic figures show home values across the eight major capital cities rose by 0.8% in July and are now up 5% since February.

Asking rents also continue to rise, up 9% on the same time last year.


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