Canberra families with a mortgage and first home buyers look to be the winners of the Reserve Bank of Australia's historic interest rate cut on Tuesday - the first drop since August, 2013.
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But the Reserve Bank's decision to drop the 2.5 per cent cash rate to a record low of 2.25 per cent alongside an improving housing market will not be enough to lift the ACT's sluggish economy.
Aranda mother of three Larissa Lulic welcomed news of an interest rate cut.
But with a large mortgage she's reluctant to exaggerate the impact of Tuesday's cut on her family's budget.
"We have quite a large mortgage so I'm not sure how much it will do for us - it depends on what the bank is going to pass on," she said.
The news comes as a drop in fuel prices relieves some pressure.
Ms Lulic said she was also lucky to return to part-time work while her family helped care for her children.
She hoped there might be further cuts on the horizon.
"That would be great - it's very expensive to have a young family in Canberra," Ms Lulic said.
She might be in luck.
Domain Group senior economist Andrew Wilson said Tuesday's lowered cash rate could just be the first as the economy underwent a "lengthy transition" away from a resource-based economy.
He said the cut was good news for Canberra mortgage holders but lowered interest rates would not activate the ACT housing market to the extent of other cities.
"I guess it's a bit of a no-brainer because of an underperforming local economy," Dr Wilson said.
"We [the Domain Group] had Canberra up by 1.4 per cent over the December quarter. That momentum will continue. With lower interest rates, that can only be positive - hopefully we'll see it start to consolidate the growth from the last quarter."
Dr Wilson hoped the banks continued to trim their interest rates to attract customers.
"Lower interest rates are unequivocally good news for mortgage holders if and when the banks pass them on," he said.
"It will probably be quite marginal [but] certainly something is better than nothing."
Real Estate Institute of the ACT president Michael Kumm said first home buyers would glean the most benefits from the lowered cash rate as it could mean they were finally able to claw their way into the territory's housing market.
He advised first home buyers to seek their own advice from an accountant or family member on how long interest rates could remain low before they jumped into the property market.
"I think they'll stay down for the rest of the year and if they do go up, it won't be as much as before," he said.
However, Mr Kumm said low housing stock in the capital region meant prospective buyers would likely face stiff competition.
"There are 2324 properties on the market in Canberra and Queanbeyan, which is a record low, so it will probably put pressure on the market," he said.
"It's usually about 3200 properties at this time of year so we are substantially down."
Mr Kumm said slashed interest rates meant Canberra's property investors would also benefit from healthy returns.