RBA leaves official cash rate at 2.5%
Low interest rates can make commercial loans that much more affordable, something savvy investors have surely been considering in recent months. And with the Reserve Bank of Australia's (RBA) most recent monetary policy decision, there's a good chance those thinking about investing in commercial property in the Northern Territory are getting one step closer to making a move.
"At its meeting today, the board decided to leave the cash rate unchanged at 2.5 per cent," RBA governor Glenn Stevens said in a 3 June media release.
"Monetary policy remains accommodative. Interest rates are very low and for some borrowers have edged lower over recent months."
Mr Stevens went on to say that keeping interest rates stable is likely the smartest economic move at the moment, indicating loan borrowers may be able to count on favourable rates for some time yet.
The lower interest costs will be especially beneficial to property buyers in regions where prices have risen considerably due to high demand.
Whether you're considering investing in office space in Winnellie or industrial property in Woolner, there's no doubt more affordable financing will be a boon to your investment strategy in NT.