Australia tipped for solid growth

Australia is in a very good position to enjoy economic growth in the near future, according to the governor of the Reserve Bank of Australia (RBA) Glenn Stevens.

In a speech, Mr Stevens said that the country was doing better than "even most of the optimists" believed possible a few months ago.

Such news could encourage those keen to buy property in a country where the economic outlook is bright.

Mr Stevens suggested a particular advantage Australia has is that it's government has not had to bail out the banks.

"Australia, therefore, will be relatively free of the difficult governance and exit strategy challenges that such support is raising in some countries," he noted.

Earlier this week, the RBA raised the cash rate by 0.25 per cent to help ensure inflation is kept under control.

In his statement on the move, the governor sated that house prices have already risen "appreciably" this year.

Like this? Then share with your friends and colleagues!