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Despite a five day holiday on the cards this Easter, many new property owners plan to lay low and save money this Easter.
According to a survey conducted by Mortgage Choice, 32 per cent of property owners who bought their property in the last two years, plan to spend less this Easter holiday compared to last year.
According to the survey 54 per cent plan to spend the same and only 14 per cent will spend more.
“Taking a battering from the November rate rises and recent hikes to other living costs while witnessing, and in some cases experiencing, the destruction of natural disasters means a leaner, more conservative Easter for many Australians,” said spokesperson for Mortgage Choice, Kristy Sheppard.
“Our 2011 Recent First Homeowner Survey found almost one third will spend less this Easter and only one in seven will spend more, despite five months of steady interest rates.
“Borrowers are determined to either put money back in their hip pockets or make sure their outgoing cash flow doesn’t increase.”