As homeowners struggle to cope with the rising cost of living, there's fears they could also soon be hit with a rise in interest rates.

South Australians will already be paying more for their water, power and council rates.

Economist Daryl Gobbett says homeowners should brace for a rise later in the year.
 

"I don't think we're going to see one in the next month or two but certainly believe that by the time we're into August, September, October we should prepare for it. Probably around a quarter of a percent."

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