Australia's property market cools as first home buyer loan applications drop
Australia’s property market is cooling as first home buyers step back, with loan applications down 13.4% in May compared to last year. Despite lower prices, rising interest rates and economic uncertainty deterred buyers, leading to a decline in demand for affordable homes.
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Summary by OZbrief Editorial · The Guardian Australia · Source
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Published 03 Jul 2026, 15:00 UTC · Updated 03 Jul 2026, 15:10 UTC
Summary by OZbrief Editorial. Original report: The Guardian Australia. Editorial policy · Corrections
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