Page last updated at 05:22 GMT, Tuesday, 6 April 2010 06:22 UK

Australian homeowners facing financial woes


The Australian reserve bank has raised the cost of borrowing from 4% to 4.25% in an effort to cool down the country's overheating economy.

But many Australian homeowners are beginning to struggle with payments, following four previous interest rate hikes in recent months.

Nick Bryant reports from Sydney.


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