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The Reserve Bank of Australia has left interest rates at the record low of 1.50 per cent at its August 2017 board meeting. 

REINSW President John Cunningham said the decision sees interest rates remain steady for the past 12 months after the RBA last cut interest rates in August 2016. 

“While the RBA has not acted over the last year, there has been considerable activity from the banks. 

“The Sydney property market has settled down after a whirlwind period of growth but solid competition remains and will continue into the normally strong spring market. 

“Buyers must prepare themselves for several interest rate rises in the future, but the outlook remains positive,” Mr Cunningham said. 

The RBA will next meet on Tuesday, 5 September 2017.