Auction Results Sydney 16 October 2021
Auction Results Sydney
Comment: Auction Results Sydney
The bank expects property prices to climb 22 per cent this year, up from a forecast of 18 per cent, and has also lifted its outlook for next year from 5 to 8 per cent.
APRA told banks this week that they needed to lift the “servicing floor” interest rate that they use to assess borrowers.
APRA has now lifted that servicing floor rate to 3 per cent. Banks will need to test home buyers at 5.5 per cent and investors at 6.5 per cent.
APRA pointed out they had plenty of options. And they deliberately chose an option that would have a bigger impact on investors over homebuyers. Investors have been targeted.
The maximum you’ll be able to borrow has dropped by about 5 per cent and we have noticed several properties been past in this week with no bids that otherwise would have sold at record prices. It appears the tide has turned in favour of the buyers…
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Disclaimer: Not all Properties were bought or sold by TBAS® Buyers Agents. The Auction Results Sydney are compiled for research purposes to assist our valued clients in making educated decisions when purchasing proper