Market slow to move after cuts
January 20, 2012 Leave a comment
Further interest rate cuts may be needed to spark the property market, real estate identity Deanne Lamprey says.
Two cuts of 0.25% before Christmas raised hopes a boost in sales to investors and first home buyers was on the way.
However, there had been little sign of that so far, Mrs Lamprey, the principal of First National Burnie, said yesterday.
“It was really, really quiet over the Christmas- New Year period.
“I think if maybe there was another half to a full per cent rate cut it may spark things up.” She said investor inquiries had picked up, but they were just doing research at this stage.
Mrs Lamprey said she knew a lot of nurses who were leaving the state because of cutbacks and that would have a huge impact on the market.
The situation sounded sunnier in Devonport.
Source: Burnie Advocate 06 January 2012