'Deeply pessimistic' Australians shunning new homes, refinancing in record numbers
Australians have little confidence in their financial plight and are turning to refinancing to ease their budget burdens while shunning new homes in the face of rising interest rates and inflation.
Australians are more focused on rebuilding their finances than a new home, as interest rates and other factors take hold. (Image source: Shutterstock.com)
New home sales continue to fall as buyers shy away from rising interest rates, increased building costs and uncertainty in the building industry
.The RBA’s hefty interest rate hikes and inflation that eats into household budgets and savings is also driving record numbers of people to refinance their home loan.
New home sales fell by 1.6 per cent in August after the 13.1 per cent decline seen in July, while more than a million Australians refina…
