High prices foiling first-home buyers

Original article by Patrick Commins
The Australian – Page: 4 : 17-Jan-20

The number of first-home buyers approved for new loans in November fell by 0.9 per cent, according to the Australian Bureau of Statistics, while the average loan for first-home buyers increased to a record $410,000. ANZ economist Adelaide Timbrell says fewer first-home buyers taking out bigger loans is an indication that rising house prices are making it harder for first-home buyers to get into the property market. She says the ANZ expects an interest rate cut in February, which is likely to push up house prices and reduce housing affordability.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ,{SPAC}AUSTRALIAN BUREAU OF STATISTICS

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