No more Saturday market THE BUGLE’S VIEW

The last time property was this expensive, Bob Hawke was Prime Minister, MC Hammer was on top of the charts with “U Can’t Touch This” and Peter Sterling was about to win his second Rothmans Medal.

That was September 1990 – when the average Aussie needed to shell out 45.5 per cent of their income to buy a house.

Today, that same figure is 45.4 per cent.

ness owners this week, it’s clear these rate hikes are rippling through the local economy – people are spending noticeably less.

A local hairdresser says her turnover is down and her cash flow has taken a hit.

“Customers have been rescheduling their appointments because they simply can’t afford it. It’s hard,” she said.

Council has announced the Kiama Seaside Market, operated by the Kiama & District Business Chamber, will continue to operate at Black Beach (16 times a year) and the Kiama Farmers’ Market will continue to weekly at Surf Beach under its new licencing arrangements.

The new system is based on an independent land valuation rather than a per stall fee as in the past.

This has led Kerrie Humphrey of HiViz Events not to participate in the Expression of Interest (EOI) to continue running her Kiama Makers & Growers Market under the new system, as she felt that it did not take into account the practicalities of running a market.

After nine years, she is holding her last Saturday market down at Black Beach - the Kiama Makers & Grow- ers Market - on 27 May.

While frustrated by the experience trying to get her points across to Council, and concerned about the fate of her stallholders, Ms Humphrey is already moving onto her next venture. She is relaunching the markets at Bulli Showground as the Bulli Village Market on 11 June, while continuing to operate her markets at Milton and Moss Vale.

“I gave it a long hard think as it wasn’t an easy decision to make,” she says.

“I just didn’t think it was fair that the rent for my smaller market - which I had managed for nine years - was going up 40 per cent, as well as having no weather cancellation policy given the flat fee.

“I didn’t think it was fair I should have to be paying as much as the Seaside market, when it was double the size [60 stalls vs 100-150 at the Seaside Market] and the same price.”

After the first EOI was withdrawn for further discussion, not-for-profits were offered a 25 per cent discount on their fees. HiViz did not qualify for that.

Farmers’ Market Manager Tricia Ashelford says, “I was relieved our EOI was accepted, and am looking forward to nutting out some of the conditions so they reflect our reality,” says.

“In particular, given we are committed to holding a market each week and can’t make one up, we are concerned about having to pay for park usage when we are also paying to use the Uniting Church. This wasn’t factored into our costs before.”

Kiama I Do: Get married in paradise!

With picturesque views of rolling mountains and calm seas, and a wide range of leading wedding venues and suppliers, Kiama and the surrounding area is already an enticing place to tie the knot.

The Kiama I Do wedding trail ties it all together for a day that showcases the area as the perfect destination wedding venue.

Participating venues will have rooms decorated as a wedding ceremony and reception with a range of essential suppliers, including florists, bakers, photographers, musicians and djs, and dress makers, on hand for enquiries.

Venues include The Pavilion Kiama, Sebel Harbourside, Crooked River Winery, Mercure and Jamberoo Lodge.

The Pavilion Coordinator, Jackie Hall, says the event –which began six years ago –attracts up to 3,500 people to the venues.

“This is really important in terms of attracting people to our area which is so beautiful. The coast is wonderful and very picturesque for weddings especially,” Jackie says.

“There are just so many options for people to be able to choose what type of wedding they would like and we have the venues to be able to offer that.

“For Kiama itself, we can offer pretty much everything that not only the bride and groom need but also the guests on the day as well.”

Sunday 28 May, 10-3pm www.kiamaido.com.au

It’s a good way of illustrating just how hard ordinary people are getting hit by the Reserve Bank’s interest rate hike-athon.

And, of course, buyers aren’t the only ones getting smashed by successive rate rises.

Families with a mortgage – including thousands who took out loans on Phil Lowe’s promise rates were going nowhere until 2024 – are under the pump. And they’re under the pump in a big way.

According to Finder, more than four hundred thousand households missed a mortgage payment in the second half of last year.

It’s no secret mortgage stress is a massive problem in Kiama.

A couple of months ago, the Illawarra Mercury interviewed a local family forced to sell their car to help keep up with mortgage payments, which had gone up by $1300 a month.

That’s $15,000 a year extra for a family already paying lots more for electricity, petrol, and groceries.

Given the 2021 Census found Kiama’s average monthly mortgage payment was $2194, it’s safe to assume locals are now on the hook for at least $3000 a month.

How are families supposed to get ahead and plan for the future when it costs that much just to keep a roof over their heads?

Speaking to Kiama busi-

It’s a similar story for Darren Longbottom, owner of Zink Surf, who says he’s been forced to cut costs and is looking hard at layoffs.

“A business is no different to a personal or family budget. Along with obvious slowing trade, we have a cost to business which is increasing with not only inflation but with what seems like endless rising interest rates,” he said.

It’s not just mortgage holders up against it, though –renters are in a similar boat.

When the Census was published two years ago, the average weekly rent in the Kiama LGA was $485.

Today, of the 74 available rentals in Kiama and surrounding suburbs on realestate.com.au, only seven are on the market for $485 or less and there’s nothing with two bedrooms for less than $600.

Last week, The Bugle promised to start a new conversation about the future of our community.

We’re speaking up about interest rates and the cost of living today because our community literally doesn’t have a future if solutions aren’t found to make property more affordable.

That’s why, in the coming months, every time we speak to an elected official – be it the Mayor, an MP, or a Minister – this will be our first question. And it should be yours too.

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