Investors set to benefit

Normally, the news that residential property prices are falling - meaning the market is starting to favour buyers ahead of sellers - would be met with a sigh of relief by those trying to buy their first home.

But fast rising interest rates, imposed by the Reserve Bank to curb galloping inflation, have thrown first home buyers a curve ball. Some will no longer be eligible for a mortgage and even if they do qualify many fear they won't be able to meet ever-rising mortgage payments.