Cashback offers, big rate discounts and special low variable rates were withdrawn or adjusted by a number of lenders in June, as mortgage providers shifted their focus from market share to margin preservation.
A beachside town two hours drive from Adelaide is so affordable houses cost just $60,000. For those wanting to live in a big city, units in an elite part of Perth typically cost just $350,000.
The Commonwealth Bank, Australia s biggest home lender, has slashed mortgage rates - despite predictions the Reserve Bank will inflict more pain on borrowers in 2022 and 2023 as inflation soars.