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Let the good news keep rolling…

By Chris Watson
Last week we spoke of the positive news in the media recently, stating that the real estate market may have bottomed out and this week there is further good news pointing to the same outcome.
APRA, which is the organisation that sets the guidelines for banks to adhere to when lending, has relaxed their guidelines for how an applicant is assessed when it comes to their ability to repay the loan. What this means is that buyers will be able to borrow more money. Lack of borrowing capacity has been the single biggest reason why prices have fallen and this news is sure to counteract that.
Also, the RBA announced that they will be discussing the possibility of cutting rates at the June meeting. If this were to happen, many buyers would seize now as the opportunity to jump in the market and purchase.
These factors, along with the election being done and dusted are sure to at a minimum, create a purple patch for real estate prices through the winter months.
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