Australian housing market adjustment!!?
The Reserve Bank of Australia announced today (May 3) that it has raised the interest rate to 0.351 TP3T, the first rate hike in 12 years since November 2010, which is expected to trigger a housing market adjustment.
Let me analyze with you how the interest rate hike will affect everyone. Discussion is welcome! 
Friends who already own real estate:
If your loan has a variable interest rate, you should notice that the bank will notify you of interest rate changes.
Commonwealth Bank (CBA) has announced that variable rates will increase by 0.25% (Figure 1).
So how much extra interest do you get each month? Let's take the CBA interest rate as an example (Figure 2).
If we disregard the offset account, it would probably add $75-105 per month.
For those who haven't entered the market yet:
Starting in March, the Brisbane property market showed a slight shift in direction.
During the previous boom in the property market, sellers and agents wouldn't bother calling you constantly to ask if you were interested in making an offer, because they had plenty of good offers to choose from.
Recently, many seller agents have been calling our buyers agents, asking if our customers want to make an offer.
The seller's agent arranged for us to go for a private inspection, but we didn't go. They texted me asking why we didn't go. 
(Figure 3)
In addition, many properties have been put back on the market due to contract crashes, and based on supply and demand, there is some room for price adjustments (Figure 4).
On the other hand, interest rate hikes will certainly affect your ability to obtain loans.
For those who haven't taken out a loan, it might be necessary to consult a banker/broker for a reassessment to see how much property they can afford!
For those who have already secured a loan and have pre-approval in hand, it's even more important to seize the opportunity!
If you have any questions about buying or selling a house, feel free to talk to us!
# Australia Interest Rate Hike
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