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Leader Mordialloc Chelsea
Rate rise tipped to inflict pain on first-home buyers Money | Jesse Wray-McCann
Edithvale’s Tracey Maud, with children Matt and Brooke, said she would have to rein in her spending if interest rates increased. Picture: CHRIS EASTMAN. N19MC125
FAMILIES are bracing for interest rate rises, just months after being told to spend up big to help the economy. A rate rise of 0.25 of a per cent is tipped when the Reserve Bank meets tomorrow, with more rises expected by year’s end after September quarter inflation figures were higher than anticipated. Last week the Reserve’s cash rate was 3.25 per cent. Edithvale home owner Tracey Maud said she would have to rein in her spending if the Reserve increased rates. It could mean the single mother will have to go without a weekly night out with her children, aged 21 and 19, who live at home. ‘‘One of our favourite things to do is go out to the Khe Sanh restaurant in Springvale South each Sunday for a really nice family dinner,’’ Ms Maud said. ‘‘But we’ll probably have to stop that if the repayments go up too much.’’ A rate rise could be a doublewhammy for Ms Maud, who runs a Mordialloc life-coaching business that focuses on helping people quit smoking. ‘‘When there’s talk of interest rates going up I always seem to
HOW TRACEY IS CUTTING BACK
Avoiding eating out and takeaway food Buying fewer impulse items Picking cheaper cuts of meat Not succumbing to pester power
notice my clients dropping off and cancelling appointments.’’ Buyer’s Choice Home Loans’ Peter Hope said many people who took advantage of the Federal Government’s first-home owner’s grant this year may not have budgeted for rates to go up. Chelsea Heights Mortgage Choice owner Peter Sellwood said mortgage holders shouldn’t be struggling with rate increases yet because they were coming off ‘‘far from normal’’ lows. ‘‘If anyone is struggling with rates at the moment then they’ve probably gone in over their heads,’’ Mr Sellwood said. In October the interest rate changed for the first time since April, increasing 0.25 of a per cent. Experts are also predicting another increase in December. 19MCV434103FMC/KE/9
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Ogilvy, at the 2009 Australian Masters. After 30 years at the Huntingdale Golf Club, the tournament moves to Kingston Heath as part of the new rotation policy among the famous sandbelt courses of Victoria. Each day from 11am. Details: www. australianmasters.com.au
Mordialloc in November... ED: MC PUB: MCV DATE: 2/11/09
The Australian Masters is at Kingston Heath Golf Club, Kingston Rd, Cheltenham, from November 10-15. Cheltenham’s Kingston Heath Golf club will host world champion golfers, including Tiger Woods and Geoff
The Gifted art exhibition runs from November 26 to December 16 at Kingston Arts Centre, 979 Nepean Highway, Moorabbin. An annual art exhibition of original artworks. Unique and beautiful one-off pieces including a range of glassware, jewellery, painting, textiles, photography, ceramics, cards,candles and more are all under $200. All welcome to the champagne opening on November 26 from 5.30-8pm. Details: Kingston Arts Centre 9556 4440.
Mordialloc in December...
Join the fun at the Bayside Children’s Christmas Picnic on Wednesday, December 2, from 10am-noon. Lots of Christmas party fun for pre-schoolers and their families at this popular event. Held at the Trevor Barker Oval, cnr Beach Rd and Hampton St, Sandringham. Details: 9599 4444. Performances at Kingston City Hall, 985 Nepean Highway, Moorabbin, from 6.30-8.30pm on Thursday, November 12. Thespians from the city’s theatre groups come together to present performances at this special free community event. Details: Jamie Smith on 9581 4692.
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Meet author Andrea Goldsmith at Parkdale Library, 96 Parkers Rd, Parkdale, on Tuesday, November 17, from 6.30-7.30pm. Andrea Goldsmith’s most recent novel “Reunion” is a powerful work of friendship, ambition and untimely death. A novel of ideas, it juxtaposes Melbourne in the 1970s with the Melbourne of today through the reunion of four university friends. The book has been widely and favourably reviewed. Bookings: 1300 135 668 or at any local library branch.
The City of Kingston offers an exciting range of arts and cultural events and activities over the summer months. The jam-packed calendar of events for Summer Revival kicks off this month and continues until the end of February. There are lots of exciting events to be held across the City of Kingston including exhibitions, interactive workshops, children’s activities, outdoor cinema screenings and dance performances. Copies of the Summer Revival calendar will be
Let’s get down to details. At GIO, we get what it means to be meticulous. We step through insurance nitty-gritty with you and happily answer any of your questions too. When you’re certain what you’re covered for, you’ll know where you stand, right down to the last detail at hand. Search
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Community Christmas Carols, Sunday, December 20, from 6.3010.30pm at the Peter Scullin Reserve, Beach Rd, Mordialloc. The Mordialloc foreshore comes to life for this popular free annual event. Kicking off at 6.30pm with pre-concert kids’ entertainment, followed by the main concert from 8.15pm and fireworks at 10.15pm. Featuring Mark Seymour, Daryl Cotton, Jane Clifton, Paul Williamson, the RAAF band and more, plus a visit from Santa. Take a blanket. Some reserve seating is available at a cost of $11 a ticket (bookings available from November). Details: 9580 8841.
Grab your togs for this marathon open water swim on Australia Day, January 26. The Australian Unity Great Australia Day Swim is a 1.2 km open water swim from the Middle Brighton Pier, around the Royal Brighton Yacht Club marina and finishing at Middle Brighton Baths. If you’re not up for
Globe to Globe World Music Festival. Saturday, January 23, from noon to 10pm and Sunday, January 24, from noon-6pm at Namatjira Park, Springs Rd, Clayton South. The Globe to Globe is a fun multicultural music festival with a host of activities including music and dance workshops, exotic cuisine and rides and amusements. A highlight is the Saturday night fireworks display. Details: Gabrielle Nime: 9581 4691.
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Mordialloc in January…..
it, visit the pier, breakwater and the walkways surrounding the baths and watch the swimmers at work. Music and BBQ stalls will be provided on the lawns nearby. A highlight will be the inaugural ``Klim Swim Relay’’ at Middle Brighton Baths, with Olympic legends including Michael Klim joining relay teams competing over a 5 x 400 metre course. Other highlights include novelty events for the kids. Details: greataustraliadayswim.com.au
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available from December at Kingston Council’s customer service centres or via the website www.kingston.vic.gov.au
Grab a Christmas bargain at Kingston Farmers Christmas Market on Saturday, December 5, from 8am-12.30pm. This popular community market is on again at Sir William Fry Reserve, Nepean Highway, Highett. Offering a range of Christmas goodies direct from more than 50 local producers. Puddings and turkeys, chocolate truffles, nougat, fruit and vegetables, breads, cheeses, organic meat and chicken plus a range of speciality products. Entry $2.
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At GIO, we get what it means to be meticulous. We step through insurance nitty-gritty with you and happily answer any of your questions too. When you’re certain what you’re covered for, you’ll know where you stand, right down to the last detail at hand. Search
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