EAST London property experts say more home buying deals are falling through because of the economic downturn.Agents interviewed by the Dispatch said about half now fail, compared to an average of 10 percent before the interest rates hikes and the introduction of the National Credit Act (NCA) in 2006.


With each successive interest rate hike from June 2006 to June this year, consumers found it tougher to meet bond payment obligations. Prospects of getting home loan approval also dwindled to new lows for those vying to get into the property market.


Mario Raffa, principal agent of Century 21 Silver Sky, said his company had seen a