Property market showing positive signs ahead of expected interest rate cuts

The Australian property market is showing encouraging signs ahead of the expected interest rate cut, marking its smallest month-on-month decline since May last year. While property values continue to trend downward across the country, the rate of decline slowed in May, falling only 0.4 per cent. Corelogic notes the improvement has been largely driven by a turnaround in the Sydney and Melbourne housing markets. Home loan rates are the lowest they've been in almost 60 years, with homeowners looking likely to have the full RBA interest rate cut passed down by banks.

from National | Daily Telegraph http://bit.ly/2Wd6FrX