Only 10 suburbs represent 130,000 households under mortgage stress

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Several New South Wales and Victoria suburbs represent a large number of areas with the highest number of mortgage-stressed borrowers, according to the latest market update from consumer group CHOICE and Digital Finance Analytics ( DFA)

There are 10 suburbs in crisis in New South Wales and Victoria, representing 130,000 households considered to be in mortgage stress. According to data collected by Digital Finance Analytics, 63,500 households in New South Wales and 70,500 in Victoria are under mortgage stress.

“These are households where, from fifteen to fifteen days, people spend more than they earn. This means they have to make tough choices, like putting food on the table or keeping track of reimbursements. If they can’t keep up the act of juggling, they risk losing their home, ”said Alan Kirkland, CEO of CHOICE.

Kirkland said government plans to repeal secured loan laws could impact the mortgage stress situation in the worst-hit suburbs.

“Secured loan laws have been put in place to prevent the enormous damage to families and communities caused by mortgage stress – by forcing banks to avoid giving loans to people they cannot afford.” repay, ”he said.

“If the government gets away with its plan to do away with safe loan laws, people who desperately want to enter a booming real estate market will be at risk of overexposure and people who need to refinance will not. sufficiently protected. “

Five of the 10 postal codes with the highest number of households experiencing mortgage stress were from Victoria. However, the NSW zip code 2560, home to suburbs such as Airds, Bradbury, Campbelltown, Kentlyn, St. Helens Park, Wedderburn and Woodbine, was at the top of the list.

The table below from CHOICE and DFA below shows the top 10 national postal codes with the highest number of households under mortgage stress:

Rank

Postal code

Suburbs

state

Number of households under mortgage stress

1

2560

Airds, Ambarvale, Appin, Bradbury, Blair Athol, Bradbury, Campbelltown, Englorie Park, Gilead, Glen Alpine, Kentlyn, Leumeah, Rosemeadow, Ruse, St Helens Park, Wedderburn, Woodbine

NSW

10578

2

2170

Casula, Chipping Norton, Hammondville, Liverpool, Liverpool South, Lurnea, Moorebank, Mount Pritchard, Prestons, Warwick Farm

NSW

10002

3

6065

Ashby, Darch, Gnangara, Hocking, Jandabup, Landsdale, Lexia, Madeley, Mariginiup, Melaleuca, Pearsall, Pinjar, Sinagra, Tapping, Wangara, Wanneroo

Washington

9889

4

4350

Athol, Centenary Heights, Cranley, Darling Heights, Drayton, East Toowoomba, Finnie, Glenvale, Harlaxton, Harristown, Kearneys Spring, Middle Ridge, Mount Kynoch, Mount Lofty, Mount Rascal, Newtown, North Toowoomba, Northlands, Prince Henry Heights, Rangeville , Redwood, Rockville, South Toowoomba, Southtown, Toowoomba, Toowoomba East, Toowoomba South, Toowoomba West, Top Camp, Wellcamp, Westbrook, Wilsonton, Wilsonton Heights, Wyalla Plaza

QLD

9693

5

3805

Fountain gate, Narre Warren, Narre Warren South

VIC

8919

6

3806

Berwick, Harkaway

VIC

8292

7

3029

Crossing the hoppers, Tarneit, Truganina

VIC

7972

8

3350

Alfredton, Ballarat, Ballarat Nord, Ballarat Ouest, Black Hill, Brown Hill, Canadian, Eureka, Golden Point, Lac Wendouree, Mount Clear, Mount Helen, Mount Pleasant, Nerrina, Redan, Sovereign Hill

VIC

7546

9

3037

Delahey, Hillside, Sydenham

VIC

7229

ten

6030

Clarkson, Merriwa, Mindarie, Quinns Rocks, Ridgewood, Tamala Park

Washington

6876



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