With the reserve bank moving last week to increase interest rates, attention is once again focused on the property market.

While current rates are nothing like the infamous days of the late ’80s (many of us remember the 21% days), the rises may have affected some of our first-home buyers.

In the past, Noosa has been largely immune to the sensitivity that is experienced in other regions, due to the high desirability of our area. We are currently enjoying a continued and steady lift in sales and inquiries, with overall confidence high and reflective of the increasing yield ratios for investors.

We have not experienced any backlash in property sales, and have keen investors actively looking for properties to add to their portfolios. The general consensus is that now is still a great time to purchase property, with demand outstripping our supply.

If you are a homeowner feeling the pressure due to the rises, or an investor looking to buy a property for your retirement nest-egg, there are a few things you may be able to do to “ease the squeeze”.

It may be time to have a serious look into your financials, with some clever ways to offset the latest rate rises.

The first thing to consider is your loan structure – phone the lenders, as their mortgage packages can greatly vary and you may save yourself the weekly increase for the cost of a few phone calls.

Offset accounts, interest-only, fixing your loan (or a portion of it) are all options you may want to look into.

Another area for close attention is tax. It is early in the new financial year, which makes it the perfect time to consider all of the options for your tax deductions. Do you have any depreciation benefits you may have overlooked, or do you use your home residence for work purposes?

Finally, look at your weekly budget. It can take some discipline to begin with, but sometimes simplifying the household expenses and changing a few shopping habits (such as the day of the week you put fuel in your car) can save you thousands across a 12-month period.

Last but not least, seek professional and non-partial advice – talk to experts who work with money for a living and who can give you the attention and the skills you deserve.

Spending money to save money in the long run may be the best step you ever take!