PHOTO: A Chinese containership comes in to berth in Sydney. China is Australia’s No. 1 trading partner. AAP

SYDNEY/TOKYO — Aisha, the 31-year-old owner of a Sydney investment property, had a wake-up call when three of the country’s four major banks abruptly raised mortgage rates this month.

“Thoughts turn to selling,” she said, fearing unpayable interest and a further slide in property prices, as the country’s once red-hot housing market cools. A single mother who recently lost her job as a hospital administrator, Aisha has cut expenses by canceling her private health insurance, stopping subscriptions and switching to a cheaper mobile phone contract.

 

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