07.10.2008 - Australia: Rate cuts could buoy property market
Property buyers and sellers will "rush back to the market" after today's huge interest rate cut by the Reserve Bank. “People will certainly rush back to the market, and the incentives are there, more likely now than ever to buy," says Phil Naylor of Mortgage and Finance Association of Australia. The Reserve Bank slashed interest rates by a whopping one percentage point today, to 6 per cent – the largest cut since May 1992. The market had tipped a 50 basis point cut, with banks expected to pass on about half of that...... Full Article: Source