Property affordability expected to get worse in OZ as interest rates and prices rise, it is claimed.

Discussion in 'Australia Property' started by Nicholas Wallwork, Feb 26, 2010.

  1. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    [​IMG]Property affordability for first time buyers in Australia worsened at the fastest rate on record during the last three months of last year, new research shows. Economists also expect those trying to get their first foot on the property ladder will face further challenges this year.

    The sharp decline in affordability has been blamed on a 4.8% rise in average property prices for the quarter to December, the Reserve Bank raising the official cash rate by 0.75 basis points in three installments before Christmas, and the scaling back of the government's first home buyer boost.



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  2. goldeneagle

    goldeneagle New Member

    That's sad to hear, presumably the property bubble which burst in the UK will also burst in OZ, sorry to hear about that.
     
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