Frank Death, CEO HomeWorld Display Village, has welcomed the Reserve Bank’s cut in official interest rates by 1% today.

“This is a big boost to home buyers’ confidence making buying a new home more affordable for many families. The latest cuts bring interest rates down to very low levels not seen for decades and comes on top of the successful first home buyers grant boost to $21,000.

“With the Federal Government announcing a further big stimulus to the economy the news for home buyers is good.

“With rental accommodation still in strong demand and rents remaining high it makes a lot of sense to make the decision to buy your own home,” said Frank Death.

“There are some excellent deals to be secured with HomeWorld builders who are eager for sales. You can certainly get “more bang for your buck” in these circumstances.

“The lower interest rates are also excellent news for investors who have taken a savaging on the sharemarket. We expect to see more investors coming back into “bricks and mortar” in the coming weeks to meet rental demand,” Death added.