A growing number of Australians are defaulting on their home loans as the number of borrowers at risk of mortgage stress peaks at levels not seen since 2008, just before the global financial crisis hit.
abc.net.au/news/new-data-shows-number-of-australians-facing-mortgage-stress/102757414Australians are defaulting on their home loans at growing rates as the number of borrowers at risk of mortgage stress peaks at levels not seen since 2008, when the global financial crisis hit.
And while the percentage of affected people is lower than in 2008, the number of Australians at risk is higher due to growth in the population and the number of people in the mortgage market. Outback Queensland recorded the worst arrears rate in the country at 3.64 per cent, followed by Tasmania's south-east , Shepparton in northern Victoria , WA's outback , Darwin in the NT and Sydney's south-west .
Other parts of Sydney including Blacktown, the Blue Mountains, Southern Highlands and Shoalhaven were also feeling the pinch, sitting around 1.8 per cent. Households in Queensland's outback, including areas like Mount Isa, Bamaga and Cunnamulla, were also struggling with an arrears rate of 3.64 per cent.
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