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AAP
AAP
Derek Rose

Mortgage applications for first homebuyers drop sharply

Equifax Besa Deda Kevin James Lukas Coch
Market conditions and living costs are believed to be a factor in a drop in mortgage applications. (Lukas Coch/AAP PHOTOS)

Mortgage applications have fallen, particularly among first-time homebuyers and young people, as the property market continues to soften.

Mortgage applications were down 14.1 per cent in August, compared to August 2025, according to consumer credit reporting agency Equifax.

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