As many economists predicted, RBA lowered the interest rates to a record low ! 1.25%.
This is the first movement for 3 years. If you thought this is low, you have not seen it all yet. I reckon that we might see a crazy cash rate of 0.75% in next 24 months. (think about that).

This rate cut came only after 2 weeks since The Australian Prudential Regulation Authority (APRA) has proposed easing mortgage-lending criteria. APRA has proposed removing the minimum interest rate of 7% in serviceability assessments and given banks the green light to set their own minimum interest-rate floor.
If you are not convinced that the market is on the rise, the third big factor is the proposed deposit incentive to first home owners. Under liberal promise, policy makers are busy working out deposit guarantee scheme for first home owners. With this, those who got 5% deposit/saving can buy their first home, pay NO stamp duty or NO lenders mortgage insurance (LMI), claim as much as $20,000 FHOG (in regional areas). According to our numbers, this means you can buy a $600,000 home with only $10,000 saving, as long as you got a good income to support loan serviceability.

Now take a look at more macro-economic factors. (Sounds like rocket science-Not really)
The property industry employs more people than any other sector, according to a new report by AEC Group. The property industry accounts for more than 1.4 million jobs, taking over health care and social assistance as the nation's largest employers.

And this is the biggest stat of all. Did you know that 14.8M Australians (that is almost 90% of Australian adult population) has invested in property through their super funds. Put simply, our super contributions are invested mostly in Property by those big firms who collect our superannuation contributions every month.
My point is that Property is a rock-solid asset class to invest in long term. Not so much if you are looking to get rich quick. However, if you read the market correct and be ahead of the game, paying off your mortgage in 10 years and enjoying financial freedom is well within anyone’s reach.

If these are not good enough signals to a “prudent buyer”, (yet along a brave speculative buyer), you should not be in the property game. So, the message is clear. Remember what I wrote a month ago, "be greedy when others are fearful, be fearful when other are greedy" So,

“DON’T WAIT TO BUY REAL ESTATE – BUY REAL ESTATE AND WAIT”