The Reserve Bank of Australia has cut the official interest rate by 0.15 percentage points in its first shift since sitting at the already historic low of 0.25 per cent from March.
Take up of the extended First Home Loan Deposit Scheme for new homes only has been far slower than for previous schemes.
More first-home buyers have been receiving financial help from their parents in recent months, brokers report.
There are two key ingredients ultimately needed for the Sydney auction market to lose its head of steam: common sense and higher interest rates.