QUESTION: I don’t own property and I’m worried that if I don’t buy now I’ll never be able to afford something. But I read in the media that it’s a really bad time to buy property. When is the right time to make a move?
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Changes announced by APRA have made it harder to secure debt for an investment property. Some lenders will require a minimum of 20% deposit, others will mandate mortgage insurance. Investor interest rates may be higher than comparable owner-occupier loans.