‘Panicking’ SA vendors selling homes for less amid rate rises

Key points

• South Australian homeowners are rushing to sell their properties after the Reserve Bank's latest interest rate rise, but falling prices have left many vendors struggling.
• Anex Real Estate sales specialist Nick Raval said clients had signed up to sell before the rate change was announced, with more deciding to sell afterward due to unaffordable mortgage repayments.
• A three-bedroom home in Ingle Farm, marketed as a 'bargain of the year', is among the recent listings, with the vendor instructing it must be sold at auction.