Unsurprisingly, the Reserve Bank cut the official cash rate again yesterday by another 25 basis points. It’s a new record low. And it follows the news that Rudd has finally nominated September 7th as the new date for a federal election.

It’s all grist for the media mill and should keep the hacks speculating all week.

But what difference will it really make to the property market?

Those who say the interest rate cut is fantastic news are missing the point that rates are only cut when the economy is in trouble. And regardless of who wins the election, our economy is still facing a shed load of challenges in the coming years.

These home truths make any speculation about a forthcoming boom in real estate almost farcical. It’s true that some property markets around Australia are performing strongly, but Brisbane is not one of them. Even in the inner city market where auction clearance rates are markedly higher, there is little upward pressure on prices.

Whatever is going on, whatever the market conditions, for the best real estate agents, the job doesn’t really change.  It’s about effectively using process to bring buyers who want to buy together with sellers who want to sell, for the benefit of both.

All the rest is white noise.

All the best

The team at Jason Andrew