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Property prices have dropped, but not for every type of home. Insiders recommend methods to gauge if you might be able to afford your dream listing. ....
A long-awaited review of laws on property underquoting and real estate agent conduct has been put on ice until after the Victorian election, leaving some buyers unclear about which properties they could afford. ....
With the year set to end in less than three months, seven experts from Property Investment Professionals of Australia (PIPA) give us a deeper insight into the major markets. PIPA Chair Nicola McDougall said the significant rise in interest rates in such a short period of time has led to many borrowers, particularly investors, not being able to secure lending for their property purchases. In addition to higher mortgage costs, Ms McDougall said that the Australian Prudential Regulation Authority (APRA)’s decision to boost the lending buffer in October 2021 is still being felt by borrowers. “In fact, many of these borrowers are stuck on the sidelines due to the servicing buffer of 300 basis points still being applied to lending applications – even though interest rates are significantly higher now than when APRA announced the measure in October last year,” she said. The body’s latest national report also showed that the Reserve Bank’s fast-paced inter ....