New home buyers are caught between rising interest rates and falling home values, with many forecast to slide into negative equity by the end of 2023, new analysis has found.
Negative equity occurs when the market value of a property falls below the sum remaining on the mortgage, and essentially means the borrower owes more to the bank than their property is worth.
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Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
