The proportion of households falling behind on their mortgage repayments is rising around the country and is expected to lift further this year as the combination of prolonged high inflation and high interest rates continues to put pressure on budgets.
Byford in south-east Perth had the highest delinquency rate — 5.33 per cent — but Kingston in Queensland’s Logan region experienced the greatest increase in 30-day delinquencies of the top 10 worst-performing regions, with a rise of 3.16 percentage points to 4.19 per cent.The report noted that in contrast, capital cities, particularly Sydney and Brisbane, had some of the lowest delinquency rates thanks to strong home-value growth and rising incomes.
“On the interest rate, there hasn’t been continued 25- increases since November, but it is still relatively high, and high for a large portion of the portfolio of borrowers who might have taken out loans at the bottom of the rate cycle,” she said.
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