RBA makes final rate call for 2025

“The Board will be attentive to the data and the evolving assessment of the outlook and risks to guide its decisions. In doing so, it will pay close attention to developments in the global economy and financial markets, trends in domestic demand, and the outlook for inflation and the labour market,” the central bank said.

“The Board is focused on its mandate to deliver price stability and full employment and will do what it considers necessary to achieve that outcome.”

In conversation with Accountants Daily, Accounting Home Loans director of sales, Cullen Haynes, said that today’s decision to hold the cash rate was expected, given recent inflation data, but it would provide continued stability for borrowers.

“The current average interest rate range is approximately 4.9 per cent to 5.6 per cent. Property values have been rising at the fastest pace in more than two years, so if you're considering purchasing a property, now is a good time to get your pre-approval in place,” he said.

“With three cash rate cuts in 2025, your borrowing power has likely improved, potentially expanding your options in the market. Having pre-approval ready ensures you can move quickly when you find the right property.”

The recently expanded Australian Government 5% Deposit Scheme (formerly the Home Guarantee Scheme), Haynes continued, is adding more heat to the market.

“The program allows first home buyers to purchase with just a 5 per cent deposit and no LMI, with increased price caps and no income limits,” he said.

“Don’t forget, accounting professionals can access certain market advantages that can make entering the property market more attainable and realistic for the cohort. It’s best to speak to a specialist broker for accountants to gauge what’s best for you.”