property now and mortgage holders have been warned of interest rates staying elevated as the battle against inflation continues in a speech this week The Reserve Bank boss gave a pretty blunt warning to borrowers who are struggling to make repayments some may ultimately have to make the very difficult choice to sell their home well despite the tough times the value of new housing loans Rose by nearly 4% in July to $3.6 billion that's more than billion in loans that were granted to first home buyers and property adviser Anna Porter is with us now morning to you Anna okay so how much of an impact will Michelle Bullock's speech have on the market do you think with the overarching sentiment that interest rates are going to remain high I think it's going to keep investors out of the market to a great extent and people that have mortgages that have maybe come off of fixed rates may have to consider selling if they can't manage those repayments it's going to scare a few people that's that that's that's no small thing if that happens an if we start to see a flood of those forced sales that you've just flagged there do you actually think that will be a a big thing and impact the market here we are already seeing quite a few forced sales and people under Financial pressure with their mortgages at the moment so will that continue very likely it will if rates don't start to come down in the near future and you're right it is a big impact on a family it's a big decision to make and it can put downward pressure on values if there is a flood of it okay let's talk about this new super scheme which is is due to happen in the next week or so soon it would allow people to draw on their own contributions to Super funds it's called the first home Super Saver scheme how does that work and how do you see that affecting the market yeah so it's a great scheme for first home buyers to make extra contributions to their super and then withdraw that to be able to buy their first home uh there's some criteria around it that you have to be buying a first home and living in it it's not for investors and some changes come through from the 15th of September that means people that may not have been considered eligible before could be considered eligible again now and you have a longer time frame to actually get the money out before it was a little rushed and now they're giving you more time which is some great changes to see yeah it it's it's certainly a start uh such a daunting Mission Anna for those who are trying to to step into the market for the first time can you give us a bit of a snapshot of some of the best value suburbs around at the moment absolutely so there is still some great suburbs in every state that you can buy in for under a million dollars which sounds a lot but in today's money it's not it's not that much um some of them are about we tend to suggest people look about an hour outside of the capito city to get good value buying in areas that are a bit more affordable and offer great infrastructure and still access to employment and these are just a few that people should definitely be looking at okay excellent thank you very much appreciate that Anna thanks Anna we're moving on