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The Reserve Bank of Australia governor Philip Lowe confirmed in a Media Release 1 September 2020 that official rates would remain at 0.25%. This is expected to boost buyer activity despite the economic fallout caused by the coronavirus pandemic. At its 1 September monthly meeting, “the Board decided to maintain the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points. It also decided to increase the size of the Term Funding Facility and make the facility available for longer”

Reserve Bank holds official interest rate at 0.25%

The Reserve Bank of Australia governor Philip Lowe confirmed in a Media Release 1 September 2020 that official rates would remain at 0.25%. This is expected to boost buyer activity despite the economic fallout caused by the coronavirus pandemic. At its 1 September monthly meeting, “the Board decided to maintain the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points. It also decided to increase the size of the Term Funding Facility and make the facility available for longer”
Coronavirus has hit Melbourne’s property values harder than any other capital city in the country.

Coronavirus: Melbourne suffers worst home value losses in nation

Coronavirus has hit Melbourne’s property values harder than any other capital city in the country.
Sydney dwelling values have recorded their first month-on-month decline in almost a year.

House prices fall in May as coronavirus hits local market

Sydney dwelling values have recorded their first month-on-month decline in almost a year.