Melbourne-based Amrit Bhangal is one of the concerned homeowners who are worried about the rising interest rates.
Mr Bhangal, who has been living in Australia for the last 16 years, says he has never seen such an increase in interest rates and inflation.
While Amrit Bhangal is quite upset with this inflation and interest rate hike, there is also news of relief for some people on the other hand.
Melbourne-based mortgage broker Maninder Kaur has been in the profession of loan financing for over ten years.
She says the hike in interest rates has also led to some reduction in property rates which has given some relief to those thinking of buying a new house.
Ms Kaur also explained how the increased interest rates have made a difference in mortgage rates and what new property buyers should take care of before buying amidst this interest hike.
Click on the player at the top of the page to listen to the full interview in Punjabi.
