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Rightly said, why the whole country should be paying the price for current investment rush in Sydney and Melbourne, Also why higher Int rates for existing loans. New investors should decide they want to enter the market at current levels or not. The investors who took out loans earlier before current market boom should not be paying higher int rates like owner occupiers.
I agree re Sydney - why impact on the rest of Aust when it not really required as the rest of Aust hasn't boomed like Sydney - FYI in Auckland they introduced a minimum 20% deposit for investment property purchases in "downtown Auckland" only, leaving the rest of NZ to proceed as normal. Why not do the same for certain postcodes in Sydney?
Totally agree with Virendra Anand - why should the whole country be penalised for increasing investment in Sydney. We received notification that existing investors will also be penalised - why? They have already had their loan approved and the interest rate should go up (or down) according to RBA direction, it appears as though it is just a money grabbing effort by the banks.
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