Tony Alexander

Economic Commentaries

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First Home Buyers Disappear

Thursday November 14th 2013

The introduction of credit controls on lending to people with deposits below 20% of a house’s value has resulted in a net 78% of the 250 licensed real estate agents replying to this month’s survey saying that they are seeing fewer first home buyers than in the previous month. The result a  month ago was a net 41% seeing fewer and back in September before the rules became effective a net 24% of agents were seeing more.