Auctions looking up as rates go down

Wednesday 05 Dec 2012

The decision by the Reserve Bank to cut the official cash rate has given the pre-Christmas auction market a much-needed instant boost, agents say.

But other experts argue that economic issues will weigh heavily on buyers as they face one of the biggest auction days of the year this Saturday.

And the Australian Bankers' Association dampened agents' enthusiasm by saying banks were unlikely to pass on the full rate cut to consumers.

 

Read more here: http://smh.domain.com.au/real-estate-news/auctions-looking-up-as-rates-go-down-20121204-2asok.html

- Toby Johnstone, SMH