Friday May 29, 2020

Banking on significant change

Property analysts hope that government moves to support the state’s two major banks will entice more first-time buyers into the market, writes Emma Kennedy

7th March, 2009

With interest rates at historic lows and house prices continuing to tumble, affordability has certainly improved for first-time buyers.

Last Thursday, the European Central Bank (ECB) cut eurozone interest rates by half a percentage point to a record low of 1.5 per cent. This marks the fifth consecutive rate cut by the ECB, in a series of moves that have seen headline interest rates fall from 4.25 per cent since October 2008. Existing borrowers have...

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