Aspiring Homebuyers’ Increased Borrowing Power To Be Immediately Offset By Rising Property Prices

WENDELL HUSSEY | Cadet | CONTACT

A rapidly ageing Betoota Heights couple are today coming to terms with the catch 22 that faces them.

Beth and Brad Clyde have this week received some welcome news from their bank manager, who has informed them that he can actually bump their borrowing capacity up a little bit.

The bump in the amount of money they can borrow to try and purchase a roof over their heads follows the Reserve Bank Of Australia’s decision to lower interest rates last week.

Given their future potential payments will be less, their serviceability has increased – allowing the young couple to get closer to the eye-watering mark of 7 figures.

However, that welcome news has somewhat been dampened by another browsing of the local property market.

“Fuck me, I thought we’d be back in the 3 bedroom range with the new limit given to us,” sighed Beth Clyde.

“But, they all seem to go up by a fair chunk, and now 2 bedroom’s cost what three bedrooms used to cost in the suburb we want to buy in.”

‘Well technically some 3 bedroom buyer’s guides are within our range, but there’s no way in hell any of them are actually selling for anything near the actually buying guide.”

“Fuck these agents.”

“Fuck this housing crisis.”

“Fuck it.”