Saturday, August 09, 2003

First home loan buyers reach record low - as low as 10 or 11% in Sydney: "The housing affordability crisis is deepening, with new figures revealing the proportion of first home buyers at a record low, despite mortgage borrowing scaling new heights. The proportion of first home buyers taking out loans in June slumped to an all-time low of 13.9 per cent, from 25.8 per cent two years ago. The proportion in NSW fell to 12.7 per cent and a Housing Industry Association economist, Caroline Lemezina, estimates the proportion in Sydney has slumped to just 10 or 11 per cent."

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