RBA puts spotlight on affordability with today’s rate rise to 4.1 per cent

The Reserve Bank of Australia has increased the cash rate to 4.1% today, causing much attention to be focused on affordability. See statement here by the RBA and full analysis here by the The Australian Financial Review.

Higher interest rates mean that more buyers may want to invest in purpose-built apartments rather than freestanding houses.

As reported in the The Australian Financial Review last month, dwindling supply and rising demand from buyers priced out of the house market could lift apartment values faster than houses in the near to medium term, according to CoreLogic here.

Given that we are living in an era of higher interest rates, people are starting to realise that there are advantages of buying a new apartment – and not just the entry price.

Apartments are far more affordable than houses to buy, but also offer great security, lifestyle amenities and free owners from ongoing maintenance chores.

In the wake of the Reserve Bank’s decision to lift cash rates to 4.1%, Sydney home buyers will now place even more emphasis on affordability when looking for a new home.

The vision behind ALAND is to build high-quality apartments that single people, young families and downsizers can all afford to buy.

For example, the price of a studio apartment at The Gladstone Village in Merrylands starts from $482,000, and Carson on the Park in St Marys starts at just $495,000 for a one-bedroom.

ALAND is not just building apartments but attractive and sustainable communities in some of Sydney’s fastest growing regions. If you would like to speak with one of our property specialists about your options, please get in touch via our contact form here.