RBA Rate Hike Threatens Homebuyer Affordability in Over 100 Suburbs

An anticipated RBA rate increase next Tuesday could cut the typical homebuyer's borrowing capacity by approximately $20,000, shifting their affordable price range. This would push homes in numerous suburbs beyond the reach of average households.

For prospective buyers in Melbourne's western growth corridor, this means even more stringent budget planning. The focus may shift further towards more affordable pockets, increasing competition in lower price brackets and potentially impacting seller expectations in those areas.