Latest news with #mortgagecrisis
Daily Telegraph
3 days ago
- Business
- Daily Telegraph
56 Aus regions where mortgage arrears are worse than average
Alarming new figures behind Australia's mortgage crisis show 56 regions are experiencing distress levels exceeding the national average, covering hundreds of suburbs. The latest S & P Market Overview for the first quarter of 2025 found the national average for home loan repayment arrears of more than a month was 0.97 per cent as of March – a figure exceeded by 56 SA4 regions. MORE: Secret tactics of dodgy agents exposed Shock twist as former Virgin CEO to tear down $17m mansion Scroll down for full list of SA4 regions with arrears exceeding national average MORE: Shock: Brisbane prices to smash Sydney Australia's biggest political property moguls revealed This as four states/territories also topped the national arrears level led by Victoria's 1.17pc, Northern Territory 1.01pc, and New South Wales 1.07pc with Australian Capital Territory on 1.29pc off a smaller, more volatile base; while four others were below national average – Tasmania (0.58pc), South Australia (0.74pc), Queensland (0.71pc), and Western Australia (0.86pc). There was a silver lining thanks to rate cuts put in by the Reserve Bank, only one of which would have impacted the data. S & P Global said 'arrears are likely to remain low with interest rate cuts in play and inflation coming down'. 'Heightened global uncertainty and its effect on global trade and supply chains, will have downstream impacts on business and consumer confidence, affecting investment and consumer spending decisions.' But it added 'households are likely to behave more cautiously, electing to save or paydown mortgages over spending. This will help to keep arrears low.' MORE: Theme park legend's crypto hideaway hits the market Zac Efron's Aussie long lunch haunt is on the market The top 10 worst postcodes for mortgage arrears were named, shockingly half of them were in Victoria – with the worst about three times national average. 1. Cragieburn, VIC (3064): 3.10pc 2. Caroline Springs, VIC (3023): 2.81pc 3. Bateau Bay, NSW (2261): 2.78pc 4. Narre Warren, VIC (3805): 2.59pc 5. Liverpool, NSW (2170): 2.44pc 6. Carrara, QLD (4211): 2.20pc 7. Pakenham, VIC (3810): 2.11pc 8. Melton South, VIC (3338): 2.07pc 9. Blacktown, NSW (2148): 2.02pc 10. Campbelltown, NSW (2560): 1.94pc S&P Global does expect unemployment to rise this year which will impact arrears levels, but forecasts it will remain below prepandemic levels. 'Interest rate cuts will ease debt serviceability pressures. But we believe they won't make a material difference to overall arrear levels because they're likely to be gradual. These factors will enable most households to remain current on their mortgages.' MORE: Buyer of $12m mansion plans to give it away Culture Kings founders' bold $30m push SA4 REGIONS WITH ARREARS ABOVE AUS AVERAGE: VICTORIA Melbourne – North West, VIC: 2.88pc Shepparton, VIC: 2.63pc Melbourne – South East, VIC: 2.04pc Melbourne – North East, VIC: 2.03pc Latrobe – Gippsland, VIC: 2.01pc Ballarat, Vic: 1.94pc Melbourne – West, Vic: 1.86pc Melbourne – Outer East, Vic: 1.77pc Hume, Vic: 1.69pc Mornington Peninsula, Vic: 1.63pc Geelong, Vic: 1.54pc Warrnambool and South West Vic, Vic: 1.51pc Melbourne – Inner South, Vic: 1.24pc Melbourne – Inner, Vic: 1.06pc NSW Riverina, NSW: 2.77pc Sydney – South West, NSW: 2.05pc Sydney – Inner South West, NSW: 2.00pc Richmond – Tweed, NSW: 1.89pc Sydney – Parramatta, NSW: 1.73pc Sydney – Outer South West, NSW: 1.72pc Central Coast, NSW: 1.68pc Capital Region, NSW: 1.60pc Southern Highlands and Shoalhaven, NSW: 1.57pc Sydney – Blacktown, NSW: 1.56pc Hunter Valley exc Newcastle, NSW: 1.55pc Sydney – Outer West and Blue Mountains, NSW: 1.49pc Sydney – Baulkham Hills and Hawkesbury, NSW: 1.42pc Sydney – Inner West, NSW: 1.42pc Far West and Orana, NSW: 1.36pc Central West, NSW: 1.31pc Illawarra, NSW: 1.29pc Mid North Coast, NSW: 1.22pc Coffs Harbour – Grafton, NSW: 1.21pc Far West and Orana, NSW: 1.05pc QLD Queensland – Outback, Qld: 2.16pc Logan – Beaudesert, Qld: 1.54pc Mackay, Qld: 1.31pc Sunshine Coast, Qld: 1.24pc Fitzroy, Qld: 1.15pc Cairns, Qld: 1.13pc Gold Coast, Qld: 1.11pc Moreton Bay – North, Qld: 1.10pc Townsville, Qld: 1.05pc Wide Bay, Qld: 1.04pc SA: Barossa – Yorke – Mid North, SA: 1.42pc Adelaide – North, SA: 1.35pc South Australia – South East, SA: 1.27pc Adelaide – Central and Hills, SA: 1.11pc WA: Perth – North East, WA: 1.26pc Western Australia – Wheat Belt, WA: 1.26pc Mandurah, WA: 1.23pc Perth – North West, WA: 1.14pc Perth – South West, WA: 1.13pc TAS: Hobart, Tas: 1.26pc West and North West Tas, Tas: 1.13pc NT Northern Territory – Outback, NT: 2.08pc Darwin, NT: 1.04pc ACT: Australian Capital Territory, ACT: 1.29pc MORE REAL ESTATE NEWS
News.com.au
3 days ago
- Business
- News.com.au
56 Aus regions where mortgage arrears are worse than average
Alarming new figures behind Australia's mortgage crisis show 56 regions are experiencing distress levels exceeding the national average, covering hundreds of suburbs. See the list. Alarming new figures behind Australia's mortgage crisis show 56 regions are experiencing distress levels exceeding the national average, covering hundreds of suburbs. The latest S & P Market Overview for the first quarter of 2025 found the national average for home loan repayment arrears of more than a month was 0.97 per cent as of March – a figure exceeded by 56 SA4 regions. Scroll down for full list of SA4 regions with arrears exceeding national average This as four states/territories also topped the national arrears level led by Victoria's 1.17pc, Northern Territory 1.01pc, and New South Wales 1.07pc with Australian Capital Territory on 1.29pc off a smaller, more volatile base; while four others were below national average – Tasmania (0.58pc), South Australia (0.74pc), Queensland (0.71pc), and Western Australia (0.86pc). There was a silver lining thanks to rate cuts put in by the Reserve Bank, only one of which would have impacted the data. S & P Global said 'arrears are likely to remain low with interest rate cuts in play and inflation coming down'. 'Heightened global uncertainty and its effect on global trade and supply chains, will have downstream impacts on business and consumer confidence, affecting investment and consumer spending decisions.' But it added 'households are likely to behave more cautiously, electing to save or paydown mortgages over spending. This will help to keep arrears low.' Zac Efron's Aussie long lunch haunt is on the market The top 10 worst postcodes for mortgage arrears were named, shockingly half of them were in Victoria – with the worst about three times national average. 1. Cragieburn, VIC (3064): 3.10pc 2. Caroline Springs, VIC (3023): 2.81pc 3. Bateau Bay, NSW (2261): 2.78pc 4. Narre Warren, VIC (3805): 2.59pc 5. Liverpool, NSW (2170): 2.44pc 6. Carrara, QLD (4211): 2.20pc 7. Pakenham, VIC (3810): 2.11pc 8. Melton South, VIC (3338): 2.07pc 9. Blacktown, NSW (2148): 2.02pc 10. Campbelltown, NSW (2560): 1.94pc S&P Global does expect unemployment to rise this year which will impact arrears levels, but forecasts it will remain below prepandemic levels. 'Interest rate cuts will ease debt serviceability pressures. But we believe they won't make a material difference to overall arrear levels because they're likely to be gradual. These factors will enable most households to remain current on their mortgages.' VICTORIA Melbourne – North West, VIC: 2.88pc Shepparton, VIC: 2.63pc Melbourne – South East, VIC: 2.04pc Melbourne – North East, VIC: 2.03pc Latrobe – Gippsland, VIC: 2.01pc Ballarat, Vic: 1.94pc Melbourne – West, Vic: 1.86pc Melbourne – Outer East, Vic: 1.77pc Hume, Vic: 1.69pc Mornington Peninsula, Vic: 1.63pc Geelong, Vic: 1.54pc Warrnambool and South West Vic, Vic: 1.51pc Melbourne – Inner South, Vic: 1.24pc Melbourne – Inner, Vic: 1.06pc NSW Riverina, NSW: 2.77pc Sydney – South West, NSW: 2.05pc Sydney – Inner South West, NSW: 2.00pc Richmond – Tweed, NSW: 1.89pc Sydney – Parramatta, NSW: 1.73pc Sydney – Outer South West, NSW: 1.72pc Central Coast, NSW: 1.68pc Capital Region, NSW: 1.60pc Southern Highlands and Shoalhaven, NSW: 1.57pc Sydney – Blacktown, NSW: 1.56pc Hunter Valley exc Newcastle, NSW: 1.55pc Sydney – Outer West and Blue Mountains, NSW: 1.49pc Sydney – Baulkham Hills and Hawkesbury, NSW: 1.42pc Sydney – Inner West, NSW: 1.42pc Far West and Orana, NSW: 1.36pc Central West, NSW: 1.31pc Illawarra, NSW: 1.29pc Mid North Coast, NSW: 1.22pc Coffs Harbour – Grafton, NSW: 1.21pc Far West and Orana, NSW: 1.05pc QLD Queensland – Outback, Qld: 2.16pc Logan – Beaudesert, Qld: 1.54pc Mackay, Qld: 1.31pc Sunshine Coast, Qld: 1.24pc Fitzroy, Qld: 1.15pc Cairns, Qld: 1.13pc Gold Coast, Qld: 1.11pc Moreton Bay – North, Qld: 1.10pc Townsville, Qld: 1.05pc Wide Bay, Qld: 1.04pc SA: Barossa – Yorke – Mid North, SA: 1.42pc Adelaide – North, SA: 1.35pc South Australia – South East, SA: 1.27pc Adelaide – Central and Hills, SA: 1.11pc WA: Perth – North East, WA: 1.26pc Western Australia – Wheat Belt, WA: 1.26pc Mandurah, WA: 1.23pc Perth – North West, WA: 1.14pc Perth – South West, WA: 1.13pc TAS: Hobart, Tas: 1.26pc West and North West Tas, Tas: 1.13pc NT Northern Territory – Outback, NT: 2.08pc Darwin, NT: 1.04pc ACT: Australian Capital Territory, ACT: 1.29pc
Daily Mail
18-05-2025
- Business
- Daily Mail
Barefoot Investor warns against 'stupid' real estate change that is going to push house prices up even further in Australia: 'Rise by 10 per cent'
The Barefoot Investor has warned the government's first home buyer scheme will worsen housing affordability and put vulnerable Australians at risk. Scott Pape said the scheme, which promises to allow first home buyers to purchase on just a five per cent deposit, would 'just push prices higher'. 'I caught up with my old mate Louie Christopher from SQM Research, who's predicting that in this calendar year property prices are going to rise by up to 10 per cent!' he wrote in a column for NewsCorp. 'The first home buyer deposit policies are stupid. They will just push prices higher, says my mate Louie.' Mr Pape claimed Prime Minister Anthony Albanese and Treasurer Jim Chalmers wouldn't suggest such loans to their own families. 'None of them would sit down at Sunday lunch and tell their sister (if she was a single mum on a low income) to go out and buy a house with a 2.5 per cent deposit,' he wrote. 'Instead, they'd say: What if interest rates go up? What if you lose your job?' Mr Pape warned the consequences of such policies were already evident, sharing a letter from a reader named Sarah. 'Two years ago I purchased my first property using the Government's single parent grant, which meant I only had to save a 2.5 per cent deposit,' she wrote. 'Unfortunately, with the rise in interest rates and cost of living, I can no longer sustain the cost of my mortgage. My daughter and I are really struggling.' Mr Pape said he would offer Sarah financial guidance in an upcoming column, but added a grim prediction. 'It'll be a good warm-up. After all, come January 1, when Labor's five per cent deposit policy kicks in, there will be a lot more Sarahs coming through the door,' he wrote. 'Tread your own path.' At the federal election Labor confirmed it would allow all first home buyers to access five per cent deposits with no income caps or place limits. The party also pledged to build up to 100,000 homes reserved for first-time buyers. Former Opposition leader Peter Dutton told voters he would allow them to use some of their superannuation to fund their first home purchase. Last month, the Barefoot Investor compared Aussie homes to 'sardine tins sold at caviar prices' in a brutal swipe at both political parties' attempts to solve the housing crisis. Mr Pape said he spent four hours of his long weekend driving across Melbourne with his 11-year-old son who quickly noticed a key phrase on election billboards splashed around the city: 'Cost of living.' The finance guru noted his son was 'spot on' but claimed neither Labor nor the Coalition were doing much to address the issue. 'The biggest cost? The roof over our heads - rent or mortgage. That's where the squeeze is,' he wrote in a column for the Herald Sun. 'Australian homes are now some of the least affordable on Earth. And to afford them we've racked up world-class debt. 'Back in the mid-2000s, the average house cost four times the average income. Now it's more than eight.' Mr Pape claimed the current housing market had 'priced ordinary Australians out of their own neighbourhoods'. Yet, Mr Pape claimed both have only offered options that will put more money into the hands of pre-existing property owners. In good news for Australian borrowers, however, those with an average mortgage could save $100 a month on their repayments following an expected interest rate cut next week. Most economists are expecting the Reserve Bank of Australia to cut the cash rate by another 25 basis points, from 4.1 per cent now to 3.85 per cent, at its May 20 meeting. Financial markets regard a quarter of a percentage point rate cut on Tuesday as a 95 per cent chance.
