Moving for a better life - but at a cost

Monday 1 November 2004

Judie Carter and her family moved from Australia to New Zealand recently for a better life, but she has been staggered by the number of interest rate rises and the cost of housing.

By The Landlord

Reserve Bank governor Alan Bollard yesterday announced the sixth rise in the official official cash rate this year.

Mrs Carter said when they arrived she was amazed at the number of recent interest rate rises.

"Even though the Australian economy hasn't slowed down, the government made the decision not to put it up in the last quarter because often it takes a long time to see the ramification of rises. A couple of months is only short term and people still have pocket money in the bank."

Mrs Carter and her husband sold their home in Queensland for $A300,000 ($NZ325,800) and she says it has taken every penny to find a suitable house for them and their three boys in Island Bay.

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