Alice Stolz

But I think also, though, this idea that you should anticipate a rate rise at some point in the time you'll own your home.

And the same way that you perhaps should anticipate that you might not, for whatever reason, work for eight months or a year.

You might take extended maternity leave or you might fall ill or you might think, gosh, I just need a break in time out of the workforce or something.

You know, like really, if you're managing your finances efficiently, you will have that sort of bit of savings tucked away for a rainy day.

And we know that during the pandemic, you know, Australians saved, many Australians saved a lot of money during the pandemic.

So I suppose we're sort of seeing a few different levels of people here, those who really overstretched themselves and bought at the top of the market and potentially didn't bake that rate rise in are the ones who are really going to bear the brunt of this latest rate rise.

Good morning, Craig.

Great to be with you.

Look, I really did.

I feel like it's unpopular opinion, but I just found the process so thoroughly enjoyable.

I'm really surprised to say.

My husband and I bought a rather rambling old weatherboard house that probably would have been fit for Charles Dickens and it needed modernising.

The house had a terrible floor plan.

It was creaking.

There was no heating.

There was one loo.

It was just a very tired, very old house that we bought because it was all we could afford at the time.

And we thought, we'll renovate it straight away like so many people do.

And then we started getting quotes coming in for what the cost would be.

And of course, in a familiar cry to many, it was way, way over budget.