RBA gets Symond's seal of approval

by Caroline Dann26 Jul 2012

Aussie Home Loan's John Symond has weighed in on the economic outlook debate, backing the RBA's optimistic stance.

He said RBA governor Glenn Steven's speech on Monday was an accurate depiction of the past, present and future economic climate.

“I agree that arrears have remained low or have even seen some decline in the last year, while house prices are now somewhere around their 2004 levels.

"The likelihood of the so-called ‘bubble’ bursting seems low, in my opinion," he said.

 “Repayments are now at their lowest in years on the back [of] low interest rates, income growth and lower house prices and loans sizes.”

He urged borrowers to "get back into the market" and take advantage of lower rates across fixed and variable loans. 

"With an increase of houses on the market, combined with positive economic indicators, it provides a great environment  to invest in your own place rather than pay someone else’ s rent if you can afford it."

Related news:

RBA: Housing bubble won't pop yet

COMMENTS

  • by Dan 26/07/2012 10:31:14 AM

    I'm sure the RBA will be breathing a big sigh of relief now they have John Symonds seal of approval!

  • by Warwick 26/07/2012 3:59:37 PM

    You have a better commentary Dan? Looks like tall poppy syndrome to me

  • by Spinner 26/07/2012 11:12:19 PM

    Agree with John.

    As a broker (not Aussie) the platform to do business is as good as it has been since the GFC at least. Lower rates bring opportunities.