Costello warns home buyers again

The Federal Treasurer has again issued a warning to home buyers following speculation that the Reserve Bank is about to cut official interest rates. Costello was questioned on the possibility of a rate cut and responded by commenting that people must remember that prices can also start to fall. While property has been a good investment, no investment is a one-way bet, he said. Prices can overheat. His comments came as the Westpac-Chamber of Commerce and Industry survey was released showing that business confidence rebounded in the three months to June 2003.