In welcoming the cut in the official interest rate by the RBA, the Real Estate Institute of Australia
(REIA) says this will help affordability for home buyers and stabilise the housing market.
“Subject to the banks passing on the full cut this means that for each $100k borrowed annual
payments decrease by $250. For a first home buyer, who in the March quarter of 2019 had an
average loan size of $338k this means a saving of $70 per month,” REIA President Adrian Kelly
said.
