The SA postcodes a rate hike would put out of reach

A median-earning South Australian homebuyer would be locked out of multiple additional locations if the Reserve Bank decides to hike the official cash rate by a quarter of a basis point this week. According to Australian Bureau of Statistics data, those on a median wage of $89,400 – who are already locked out of the vast majority of locations – would find themselves priced out of houses in Kingston SE, Riverton, Glossop and Yorketown in the event of a 0.25 per cent rate cut when the RBA board meets on Tuesday. For those on the $146,222 wage needed to service an average loan, that number of additional towns and suburbs climbs to eight – Ottoway, Taperoo, Encounter Bay, Goolwa North, Gawler South, Christie Downs, Robe and Hayborough. The stunning waterfront properties of Hayborough, SA. Supplied But the hardest price bracket to be hit would be the $150,000 earners, where an interest rate rise would see them priced out of houses in an extra 13 suburbs. The calculations assume you already have a 20 per cent deposit and an industry threshold borrowing capacity of about 4.5 times your household income, however this requires you have minimal liabilities from things like dependent family, ...