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Housing Affordability Weakens as Investors Swoop in

October 28, 2007 Marc Pallisco buying, housing affordability interest rates, how do i buy my first property, increasing rent, property values, selling

Housing Affordability Weakens as Investors Swoop in

Prospective home buyers dealt some cruel blows over the last couple of years.

For starters, the Reserve Bank lifted interest rates – three times – seriously affecting the amount first home buyers were able to borrow, and pushing some of them out of the market completely. Most bank interest rates today circle 7 to 8 per cent – an increase of about 1 per cent on last year.