A decline in speculation has cut the growth in Australian mortgages to 6.9 percent year-on-year in May, the lowest since October 2014, according to data from the Reserve Bank of Australia. As lenders tighten home-loan standards and charge landlords higher rates, the expansion in investor mortgages slipped to 6 percent, the lowest since July 2013. Record prices are denting affordability, with Sydney values growing at the slowest pace in almost three years in the first quarter, according to Australian Bureau of Statistics.

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