It’s the fourth month in a row the RBA has left the cash rate steady after six consecutive rises from October.

Chairman of the Bendigo division of the Real Estate Institute of Victoria, Noel Dyett said the break would give time for confidence and stability to return to government and markets.

The RBA met just an hour before the independents announced their decisions on the next federal government.

Mr Dyett said he felt events such as rate rises had been on hold during the election process.

“There’s been a decision made now, so we might see an end to this holding,” he said.

“We’ve seen a lot of people, particularly in the economy, waiting for a decision.

“I think things will start to change in the next couple of months.”

Mr Dyett said he expected to see a return of confidence to the industry.

“I think there will be more confidence toward borrowing and getting into the market,” he said.

“Borrowers need to have confidence in stability of government, stability of interest rates.”

He said stability provided certainty.

“I think people can cope reasonably well with higher interest rates so long as they’ve got the confidence that they’re not going to jump significantly on them,” Mr Dyett said.

“There’s plenty of buyers, but the fact that there’s perhaps not as many properties coming on to the market comes back to confidence and certainty.”

Industry experts are predicting another rise by the end of the year, but Mr Dyett is remaining hopeful rates will remain steady.

“I certainly can’t predict it.

“But, I’d like to see more stability and for borrowers to not be subjected to regular monthly interest rate rises,” Mr Dyett said.

Reserve board governor Glenn Stevens said the current setting would mean interest rates to borrowers stayed around the average levels for the decade.