Sydney ’s delinquency rate is at 0.71 per cent, up from 0.63 per cent in February. It is tipped to get worse as rate rises hit home loans. Western Sydney families have borne the brunt of the fastest interest rate hikes in a generation as mortgage stress levels in some suburbs have risen three times higher than the Sydney average. The pain is tipped to get worse as more home owners in these neighbourhoods fall behind on mortgage repayments , and spread across the city.
Seven out of every 1000 Sydneysiders – or 0.71 per cent – are at least a month behind on their mortgages, new data for July from credit bureau illion shows. But in a string of Western Sydney suburbs, including Maraylya, Blackett, Shalvey, Narellan and North St Marys, 25 out of 1000 borrowers or 2.5 per cent are behind on their mortgage. Dozens more were behind at twice or more the rate of Sydney overall. It comes as the mortgage belt has been hit by a double whammy of the rising cost of living as well as being the Reserve Bank’s sacrificial lambs in taming inflatio
Sydney Delinquency Rate Western Sydney Mortgage Stress Interest Rates Mortgage Repayments Rising Cost Of Living Inflation
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