News

Banks driving apartment buyers to the suburbs

Tuesday 4th of August 2009

Bayleys residential sales manager Rachel Dovey says the requirement by major banks that first time home buyers have a 35% deposit for inner-city apartments less than 50 square-metres in size, is forcing many potential purchasers to look to more traditional ‘brick and tile’ dwellings in the suburbs – where only a 20% deposit is required.

“It’s creating a dis...

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