RETAILERS struggling through tough economic conditions do not expect relief from
this year’s first interest rate cut, which has taken rates to the historic low
of 2.75 per cent.
But low interest rates and population growth are key
factors in a rising regional housing market, according to Victorian real
estate’s peak body.
Swan Hill Inc retail committee chairman Terry Jennings
said interest rates — at their lowest in more than 10 years — would provide
minimal impact in tough conditions for local retailers.
“Trade has been
pretty tough, it’s been dry and no real rain to speak of since Christmas, so
trade hasn’t been sensational,” he said.
“All things have an effect, but the
amount of rain has a hell of a lot more bearing than a .25 per cent rate cut.”
For more on this story, see Friday’s edition of The Guardian (10/5/13).
