Share this article!

Source: ABC — 

Interest rates are already rising in many countries and are almost certain to rise in Australia sometime this year. But how prepared are heavily indebted households, especially those who just paid top dollar for a home in the past couple of years?

Up to October last year, the Reserve Bank maintained a pandemic mantra that its “central scenario” was for rates not to start rising until 2024.

Booking.com

That’s when Eliot Hastie and his partner bought a flat in the inner-Sydney suburb of Surry Hills.

“So, in October last year we weren’t really looking,” he says, before explaining that the Delta lockdown meant they weren’t spending as much as usual, had built up a deposit and a flat they liked came up for sale.

Reset password

Enter your email address and we will send you a link to change your password.

Get started with your account

to save your favorite homes and more

Sign up with email

Get started with your account

to save your favorite homes and more

By clicking the «SIGN UP» button you agree to the Terms of Use and Privacy Policy

Create an agent account

Manage your listings, profile and more

By clicking the «SIGN UP» button you agree to the Terms of Use and Privacy Policy

Create an agent account

Manage your listings, profile and more

Sign up with email