Interest rate cuts: Boosting the property market and your real estate career.

The Reserve Bank of Australia made good on their promise and cut the official cash rate by 25 basis points to 3.60%. The third rate cut of the year, and definite cause for celebration for homeowners and real estate agents alike.

Why do interest rate cuts impact the property market?

Headlines have been hooking everyone in with calculations about how much borrowers benefit immediately from this drop, but the impact runs far deeper and broader than just the wallets of current borrowers. 

Looking at the entire property market, Property Training Australia is expecting:

• Greater buying power. With mortgages not weighing quite as heavily on borrowers’ wallets, homeowners (or homeowners to be) often relax their spending habits and feel more comfortable borrowing or spending more.

• A bump in property prices. With cheaper borrowing the property market often sees an increase in the number of actual buyers and better yet, buyers with deeper pockets. With more buyers entering the market, existing homeowners looking at upsizing and investors feeling more confident, property prices are driven up.

• A rush to buy. With lower interest rates locked in for a third time this year, first-time buyers are increasingly panicked. While an increase in demand is welcome news for sellers, for buyers (and particularly first-home buyers) it can make for fierce competition.

• Increased rental supply. Very much dependent on location, but with lower interest rates encouraging investors back into the rental market, we could see an easing of pressure on rental supply.

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But what does this mean for a real estate career?

If you’ve been pondering the real estate career path, now’s a great time to dive in. A market that’s on the up can be perfect to kick off a property sales career.

With the property market heating up again, completing your property sales training now, positions you to take advantage of:

• Increased buyer activity. Meaning more property sales job opportunities are available.

• A bump in property prices. Making it a more lucrative time to start your real estate career.

• Returning investors. Whether it’s commercial or residential (or both), connecting with investors is great for long-term real estate career success. Kickstarting your property sales training now, will mean you’re on the ground, forming relationships with key industry influencers when confidence and activity is high.

• More listings, faster sales. In a hot market there’s more likely to be greater property sales job opportunities. Get more experience under your belt (and more cash in your back pocket), faster than in a slower moving market.

Ready to get started? Your real estate career path.

If this is the right time to kickstart your real estate career, Property Training Australia’s entry-level real estate training courses are a flexible, supportive gateway to a succesful property sales career. 

Completing your property sales training online opens doors to a dynamic industry with unlimited career opportunities in a virtual training environment that works around your schedule.