There is little doubt that the Reserve Bank needs to reduce interest rates to stimulate the economy and lift the level of confidence in buyers.
As reported, the Australian economy is in good shape generally to withstand the overseas outcomes and the West Australian economy has a very strong outlook. In the meantime a drop in the cash rate of 0.5% at the next meeting of the Reserve Bank
on the 4th October would give relief to existing mortgage holders and indicate to buyers that interest rates are not going anywhere but down in the short term.
