Housing Affordability Weakens as Investors Swoop in
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.
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