“This is especially true for first homebuyers who may find themselves in a position to purchase property following changes to stamp duty from the 1 July 2017 announced by the NSW Government last week.
“Future interest rate rises should be factored into the ability to service a loan,” Mr Cunningham said.
The RBA cut interest rates by 25 basis points in August and May 2016. The RBA will next meet on Tuesday, 4 July 2017.