First-home buyers already feel edged out as competition heats up with historic rate cut

PHOTO: While recent moves may help first-home buyers get onto the property ladder, some feel they are being edged out. Photo: Peter Rae

A historic interest rate cut and potentially larger borrowing power may herald easier conditions for first-home buyers to get a foot onto the property ladder.

But some already feel they are being edged out, with reports of increased competition.

The Reserve Bank of Australia cut interest rates this week for the first time since 2016 in a bid to bolster the country’s property market.

It was the latest move in a series of economic levers pulled in recent weeks to massage sluggish sales back into action.

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