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1.Market Observations, 8.Was Sticky

5 Aug 2019 (AFR) – Cashed-up buyers are back in the property market

(5 August 2019, AFR, p5, Nila SweeneyR, eporter)

Top end suburbs poised to get a boost (Corelogic, HomeLoanExperts.com.au, Empower Wealth, AFR)

Top end suburbs poised to get a boost (Corelogic, HomeLoanExperts.com.au, Empower Wealth, AFR)

‘Aspirational suburbs are poised to get a boost as buyers who were previously priced out of the market are now starting to trickle back armed with more confidence and bigger budgets. Thanks to the prudential regulator’s decision to allow banks to reduce their affordability buffers in assessing borrowers, buyers can now borrow up to 20 per cent more depending on their situation. ‘

<snipped…>

‘Sharon Xie, credit manager of Homeloanexperts.com.au estimates a couple with a combined income of $200,000 (no dependents and standard living expenses) can borrow an additional $115,790 under the new assessment rate, increasing their borrowing power from $1,368,425 to $1,484,215.’

Read more at AFR.com (might need AFR log in access, or try: AFR.com/trial)

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