‘It’s quite distressing’: rate rise brings new pain for would-be homebuyers

Property prices are still rising at the entry level and as borrowing costs increase, the home ownership dream is even further out of reach

The third Reserve Bank rate hike in a row has delivered a blow not only to mortgaged homeowners, but also to those hoping to break into the property market like Dani Hunterford and her husband.

They have been saving for a deposit but have been left frustrated as another rate hike appears to put their homeowning dream out of reach again.