Aussie interest rates rising again,and again...
Jan 4th 2008, 5:10 am
#1
shoot from the hip,baby
Thread Starter
Joined: Mar 2006
Location: Uk
Posts: 1,405
Aussie interest rates rising again,and again...
Well, todays interest rate hike will be the THIRD one since we arrived here in Melbourne in April 2007.
There is virtually NO WAY we could afford to buy a house here now and we came out with what we believed was a decent deposit!
I feel sorry for people moving out here who think they'll be able to buy a huge house and live the dream as easily.
House prices are continuing to rise despite the rate increase,demand is high and supply is low and if you plan to rent - the rent will be going up as well.
All makes for not so cheeery reading I know , but it's reality out here I'm afraid. ( unless of course you want to live miles from anywhere or far out from the hub of things, THEN you can get an affordable house easily, but most people need to be within travelling distance to get to work here )
It sucks.
*pearly*
There is virtually NO WAY we could afford to buy a house here now and we came out with what we believed was a decent deposit!
I feel sorry for people moving out here who think they'll be able to buy a huge house and live the dream as easily.
House prices are continuing to rise despite the rate increase,demand is high and supply is low and if you plan to rent - the rent will be going up as well.
All makes for not so cheeery reading I know , but it's reality out here I'm afraid. ( unless of course you want to live miles from anywhere or far out from the hub of things, THEN you can get an affordable house easily, but most people need to be within travelling distance to get to work here )
It sucks.
*pearly*
Jan 4th 2008, 5:16 am
#2
Joined: May 2007
Posts: 5,133
Re: Aussie interest rates rising again,and again...
Well, todays interest rate hike will be the THIRD one since we arrived here in Melbourne in April 2007.
There is virtually NO WAY we could afford to buy a house here now and we came out with what we believed was a decent deposit!
I feel sorry for people moving out here who think they'll be able to buy a huge house and live the dream as easily.
House prices are continuing to rise despite the rate increase,demand is high and supply is low and if you plan to rent - the rent will be going up as well.
All makes for not so cheeery reading I know , but it's reality out here I'm afraid. ( unless of course you want to live miles from anywhere or far out from the hub of things, THEN you can get an affordable house easily, but most people need to be within travelling distance to get to work here )
It sucks.
*pearly*
There is virtually NO WAY we could afford to buy a house here now and we came out with what we believed was a decent deposit!
I feel sorry for people moving out here who think they'll be able to buy a huge house and live the dream as easily.
House prices are continuing to rise despite the rate increase,demand is high and supply is low and if you plan to rent - the rent will be going up as well.
All makes for not so cheeery reading I know , but it's reality out here I'm afraid. ( unless of course you want to live miles from anywhere or far out from the hub of things, THEN you can get an affordable house easily, but most people need to be within travelling distance to get to work here )
It sucks.
*pearly*
Jan 4th 2008, 5:31 am
#3
shoot from the hip,baby
Thread Starter
Joined: Mar 2006
Location: Uk
Posts: 1,405
Jan 4th 2008, 5:39 am
#5
Where traffic lights rule
Joined: Aug 2006
Location: Brighton QLD
Posts: 2,460
Jan 4th 2008, 5:44 am
#7
shoot from the hip,baby
Thread Starter
Joined: Mar 2006
Location: Uk
Posts: 1,405
Jan 4th 2008, 6:12 am
#9
I don't give a damn
Joined: Apr 2007
Location: In the arms of my family. Heaven...
Posts: 4,980
Re: Aussie interest rates rising again,and again...
Well, todays interest rate hike will be the THIRD one since we arrived here in Melbourne in April 2007.
There is virtually NO WAY we could afford to buy a house here now and we came out with what we believed was a decent deposit!
I feel sorry for people moving out here who think they'll be able to buy a huge house and live the dream as easily.
House prices are continuing to rise despite the rate increase,demand is high and supply is low and if you plan to rent - the rent will be going up as well.
All makes for not so cheeery reading I know , but it's reality out here I'm afraid. ( unless of course you want to live miles from anywhere or far out from the hub of things, THEN you can get an affordable house easily, but most people need to be within travelling distance to get to work here )
It sucks.
*pearly*
There is virtually NO WAY we could afford to buy a house here now and we came out with what we believed was a decent deposit!
I feel sorry for people moving out here who think they'll be able to buy a huge house and live the dream as easily.
House prices are continuing to rise despite the rate increase,demand is high and supply is low and if you plan to rent - the rent will be going up as well.
All makes for not so cheeery reading I know , but it's reality out here I'm afraid. ( unless of course you want to live miles from anywhere or far out from the hub of things, THEN you can get an affordable house easily, but most people need to be within travelling distance to get to work here )
It sucks.
*pearly*
Follow me and Rabsody. Wait for the share prices to crumble and put all ya dosh into bargain discounted shares
You might afford a house outright once they all stop kacking their pants and the values go back up 
Jan 4th 2008, 6:44 am
#10
shoot from the hip,baby
Thread Starter
Joined: Mar 2006
Location: Uk
Posts: 1,405
Re: Aussie interest rates rising again,and again...
Ok. I'm very easily led, you know.
Sounds like a good move.
Jan 4th 2008, 6:55 am
#11
Account Closed
Joined: Nov 2003
Posts: 3,533
Re: Aussie interest rates rising again,and again...
Well that's going to put the bloody house prices down the pan even more 
There's another rise in June too supposedly.
We're all doomed....
There's another rise in June too supposedly.
We're all doomed....
Jan 4th 2008, 7:31 am
#12
Lost in BE Cyberspace
Joined: Sep 2007
Location: Canberra
Posts: 8,378
Re: Aussie interest rates rising again,and again...
For once in my life I love the fact that interest rates are rising. Now we are mortgage free self funded retirees the news is excellent for us (not to mention driving less and in a really economical car!). But, having been where you all are now in the days of HIGH interest rates my sympathies with everyone who wants to get on the property ladder! (And stay on it!)
