Mortgage stress spreads as buyers fear negative equity
Mortgage stress rose by 7.5 per cent in three months, with Melbourne recording the highest number of affected households and severe stress surging in several affluent suburbs as falling property values raise fears of negative equity.
Falling property values and higher mortgage repayments are putting pressure on household finances, including among recent buyers with smaller deposits. (Image source: MexChriss/Shutterstock.com)
The prognosis for almost half a million Australian households is concerning.
Persistent stress can lead to many health problems, such as high blood pressure, heart disease, stroke, obesity and diabetes.
With 450,539 now experiencing mortgage stress, medical centres
around the country might be seeing an influx of patients.Across the 77 ranked mortgage stress postcodes nationally, the number of stressed households rose by a net 31,318 in Q3 202…
