Data shows Brisbane home values have dropped 10% since their peak, but fast-rising mortgage repayments are expected to stop many from getting into the market. Full story 👇
Potential home buyers could face a cut of 30 per cent in the amount of money they can borrow.
Many recent home buyers will also be hit with a jump in their repayments once their ultra-low fixed-term deals roll off this year. “Ultimately, we’ll have a housing market where it’s more difficult for homeowners to service on a month-to-month basis,” he said. “So there won’t be a huge amount of relief for affordability.”RateCity research director Sally Tindall said potential buyers had already faced cuts to their borrowing capacity.
Some will be facing the tough reality that their home is worth less than they paid, making it difficult to qualify for another loan at a better rate.
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