The AFR has gone full blown bear:
…buyers without deposits of between 25 to 35 per cent are being squeezed out of the market by the tougher lending conditions, agents claim.
…Borrowers with pre-arranged credit limits are also being reviewed by lenders before a deal is settled and lending limits being lowered, following tougher analysis of their debt levels and capacity to repay…Loan approvals for many lenders have blown out from days to weeks as lenders’ demand more information about borrowers’ income and spending, particularly their capacity to service the loan for the entire term.