The Reserve Bank of Australia (RBA) in a welcomed move has cut the official cash rate (OCR) by .25 per cent to 4.25 per cent at its December board meeting.

Deteriorating global economic conditions have made it appropriate for the RBA to lower the OCR for the second successive month. The rate cut to 4.25 per cent will provide consumers with some much needed reprieve in the lead up to Christmas.

It's likely that more cuts will come in the months ahead, with the OCR expected to fall by .25 basis points when the RBA meets again in February.

There are many factors which make buying property right now an attractive option, including a low interest rate environment and an affordable property market.