First home sales began to drag in December, but new reports show three consecutive rate rises have put nearly half of new first home owners into mortgage stress.
The latest figures from the Housing Industry Association show new home sales fell by 4.6% in December as interest rates continued to rise and the first home owners grant entered its last days.
But a new report from Fujitsu Consulting shows nearly half of first home owners who entered the market in the last 18 months are now experiencing some type of mortgage stress.
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Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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