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Official cash rate cuts may not necessarily drive a new housing boom
What underpins the OCR change and how might the housing market react?
AI summary
The Reserve Bank has cut the Official Cash Rate (OCR) as inflation slows and economic indicators weaken. This could see mortgage rates fall towards 5.5% by late 2025, potentially boosting housing market sentiment.
However, a new housing boom is not guaranteed. A strong upturn is likely to be constrained by several factors, including poor housing affordability, a high number of property listings, rising unemployment, and the future implementation of debt-to-income ratio restrictions.
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