Ben Galea was the first home buyer. But rising interest rates did not worry him. This is the reason
A 25-year-old man purchased a two-story house with a beautiful garden for over $300,000 referring to the early 1990s. Key points: Parts of Queensland saw property prices rise in July, contrary to national trends The Regional Australia Institute says housing affordability will keep much of Queensland more insulated from falling property prices than the city The Gold Coast and Sunshine Coast markets are the exception, registering accelerated declines in recent months But in outback Queensland towns like Longreach, it’s the norm. The Reserve Bank of Australia yesterday raised interest rates for the fourth month in a row, but Longreach resident Ben Galea said he was not stressed. “When it came time for my fixed rate to change … I didn’t have to change my lifestyle,” Galea said. “It’s a great city. It’s bustling. There’s a lot of young people here. There’s a lot to do, a lot of sports. It’s brilliant. “There are things we don’t have here. It takes money to fly back to shore. You don’t see f