Today’s interest rate cut is a big boost to confidence and will assist the revival of the housing industry according to Frank Death, CEO HomeWorld Display Village.

“Coming on top of cuts to the order of 2%, today’s decision by the Reserve Bank to cut rates by 1% gives another reason for homebuyers and investors to come into the housing market.

“Given the volatility of the share market I would be surprised if we don’t see increased activity in new housing particularly as there some great deals to be obtained. In addition first home buyers have the further boost of the federal grant of $24,000 when you take the State Government’s boost of $3,000 into account,” said Frank Death.

Death also pointed to lower petrol prices and the benefit of lower income taxes as another boost to confidence.