First home buyers can borrow less as interest rates rise and are pulling back from the property market.
As the property market weakens, the value of loans to investors also fell sharply, down 16.1 per cent in July. “Ultimately a downswing doesn’t improve affordability for first home buyers, it just lowers the deposit hurdle,” she said. Anthony Landahl, managing director of Equilibria Finance, has noticed a drop in first home buyer activity.
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