The Guardian
UK · 3 hrs ago
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‘It’s quite distressing’: rate rise brings new pain for would-be homebuyers
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Rising interest rates from the Reserve Bank are making home ownership increasingly difficult for first-time buyers, as property prices remain high and borrowing costs increase, exemplified by prospective buyers struggling to save adequate deposits.
‘It’s quite distressing’: rate rise brings new pain for would-be homebuyers
Property prices are still rising at the entry level and as borrowing costs increase, the home ownership dream is even further out of reach
The third Reserve Bank rate hike in a row has delivered a blow not only to mortgaged homeowners, but also to those hoping to break into the property market like Dani Hunterford and her husband.
They have been saving for a deposit but have been left frustrated as another rate hike appears to put their homeowning dream out of reach again.
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