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Sydney has one of the most costly real estate marketplaces in the world. Still, Singaporean Julian Choo, who relocated to Australia in 2010, and his Australian-Malaysian wife Joanne Chai were able to purchase their first house there four years ago. Shortly after their acquisition, the Covid-19 epidemic broke out, and their property’s worth skyrocketed as interest rates hit a new low of 0.1 percent. The central bank’s promise that interest rates wouldn’t increase until at least 2024 encouraged the pair to make another real estate investment. At the end of 2021, they made a wise investment by purchasing a home

Despite falling home costs due to higher interest rates, youthful Australians are being shut out of the market. According to the latest statistics from the Australian Bureau of Statistics, the number of people purchasing their first house in January fell by 8.1%, reaching its lowest since February 2017. Six years ago, in that very same month, the Australian Prudential Regulation Authority declared an assault on interest-only and investment loans, which triggered a decline in the housing market. In January 2021, two months after the Reserve Bank of Australia reduced interest rates to a record low of 0.1 percent, there was