{"id":328391,"date":"2025-12-05T01:30:13","date_gmt":"2025-12-05T01:30:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/328391\/"},"modified":"2025-12-05T01:30:13","modified_gmt":"2025-12-05T01:30:13","slug":"dont-wait-rba-warning-for-homeowners","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/328391\/","title":{"rendered":"\u2018Don\u2019t wait\u2019: RBA warning for homeowners"},"content":{"rendered":"

As Aussies continue to struggle with increasing mortgage stress<\/a>, homeowners are keeping a keen eye on the RBA\u2019s upcoming cash rate decision on December 9.<\/p>\n

NSW remains the country\u2019s most unaffordable state, with mortgage repayments taking up over one third of the average income <\/a>for a median priced home, according to PropTrack.<\/p>\n

As inflation rose <\/a>to 3.8 per cent in October, Compare the Market spokesperson Sarah Orr has warned that homeowners should not wait for further rate cuts before reviewing their home loans.<\/p>\n

\"ECONOMIC<\/p>\n

The RBA will announce its next cash rate decision on December 9. Picture: NewsWire\/John Appleyard.<\/p>\n

\u201cDespite mortgage repayments being a major stress, we know there are still people out there that haven\u2019t shopped around for a better deal this year,\u201d Ms Orr said.<\/p>\n

\u201cAnd now with inflation on the rise, there\u2019s a slim chance the RBA will deliver relief in the form of a rate cut any time soon.\u201d<\/p>\n

Ms Orr said there could be as much as a 0.50 per cent difference between some advertised rates.<\/p>\n

\u201cAussies may be able to effectively create their own rate cut by shopping around,\u201d she said.<\/p>\n

\u201cSo don\u2019t wait for the RBA to act \u2013 see if you can wrangle a better deal for yourself.\u201d<\/p>\n

MORE: Sydney house prices rise $121k off back of \u2018help\u2019 scheme<\/a><\/p>\n

\"\"<\/p>\n

Compare the Market spokesperson Sarah Orr.<\/p>\n

According to Ms Orr, even with a 20 per cent deposit on a median Sydney home, monthly repayments could be more than $5,600, which she said was \u201ca huge amount of money for most people.\u201d<\/p>\n

Compare the Market\u2019s Household Budget Barometer found that around nine per cent of people surveyed in NSW said they were in mortgage arrears.<\/p>\n

MORE: Penthouse smashes Central Coast home price records<\/a><\/p>\n

\"\"<\/p>\n

Mortgage repayments as a proportion of income, as of November 2025, via PropTrack’s Housing Affordability Report. Source: PropTrack.<\/p>\n

And, Mr Orr added, it is not just mortgages causing stress for NSW households.<\/p>\n

\u201cAverage home and contents quotes in Sydney climbed 22.2 per cent, or $611 year-on-year, now averaging $3,364,\u201d she said.<\/p>\n

\u201cThat\u2019s higher than any capital in the country.\u201d<\/p>\n

The rising costs of other bills are also eating away at household savings.<\/p>\n

MORE: Dirty move left family homeless before Xmas<\/a><\/p>\n

\"GROCERY<\/p>\n

Other household costs, like groceries, are also on the rise. Picture: NewsWire<\/p>\n

According to Compare the Market, NSW motorists spend an average $2,904 a year on fuel, while NSW residents spend just over $10,000 a year on groceries.<\/p>\n

Electricity bills, Compare the Market report, can cost between $1,965 and $2,741 a year for households on the default market offer in some regions.<\/p>\n

MORE: Spectacular way Aussie rate cuts backfired<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"As Aussies continue to struggle with increasing mortgage stress, homeowners are keeping a keen eye on the RBA\u2019s…\n","protected":false},"author":2,"featured_media":328392,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":{"0":"post-328391","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/328391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=328391"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/328391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/328392"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=328391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=328391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=328391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}