According to the latest Mortgage Choice Consumer Sentiment Survey, 27 per cent of respondents indicated that other costs of living including utility bills was their biggest monetary concern heading into 2011.

Interest rates came in second, with 16 per cent of the 1061 respondents indicating that this was an area for concern.

Investors were the most concerned about rates, with 27 per cent ranking it as their biggest concern, compared to 19 per cent of next home buyers and 8 per cent of first home buyers.

"Despite widespread expectations of interest rate rises throughout the next 12 months, our annual Consumer Sentiment Survey found the concern over utility bills and other living costs outweighed concern about interest rates,” Mortgage Choice senior corporate affairs manager Kristy Sheppard said.

The survey also indicated that 35 per cent of respondents intend to purchase a property within the two years to November 2012, with 36 per cent planning an investment property, 33 per cent their next home and 31 per cent their first home.