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Sydney experienced a 78.24% initial clearance hit in the first week of July, while Melbourne saw a 70.31% clearance rate..

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The sentiment dropped 4.1% to 96.5 in July, the lowest reading since August 2017, according to the Westpac-Melbourne.

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House prices in Sydney and Melbourne could fall by up to 25 per cent this year. from the $120 billion interest-only loan rollover and mortgage broker exodus to the Labor Party’s proposed tax.

Mortgage brokers have been core backers of the Liberal Party. When Frydenberg spoke to colleagues at the government’s cabinet meeting in Melbourne on Tuesday, fresh in his mind would have been.

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David Bailey, chief executive of mortgage broker and RMBS-issuer Australian Finance Group, said demand for the products remained very strong despite some change to the returns in the lower tranches..

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