no rate rises for at least 6-9 months, page-15

The commentary I've heard (and it seems to make sense)is ..we have a 2 speed economy. I don't think anyone can argue against that.

We are not firing on all cylinders.

But we're nevertheless having to pay higher rates due to the mining boom.
We have had several rate rises in succession .. they are just starting to bite now !!

An average Melbourne home equates to 9 years of average gross wages - it's unsustainably high - especially given the Victoria's sluggish economy (we're seeing signs of rising unemployment and falling retail sales).

We cannot keep paying the higher interest rates that the mining boom has started to impose on us (the rate rises in succession)... without it finally impacting negatively on house prices.