The recent rate cut by the Reserve Bank, with follow-on cuts by the major banks will be some relief to the home-owners in Lyster Ward. Shire of the Yarra Ranges stats have home-ownership at above 50 per cent for communities in the Lyster Ward and I know from discussions with people that they've been feeling the strain.
My family, like many people have been feeling the interest rate hikes - so some relief is extremely welcome.
I realise that interest rates aren't within the responsibility of the Shire ( I doubt very much the Federal Government has anything to do with them either, despite what Malcolm Turnbull thinks)! But recognising the stresses that residents are under is one step in providing solutions.
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