The suburbs in which you have NEVER invested: the areas where homeowners find it hard to pay off their mortgage
- The stress of the mortgage has hindered some homeowners more than others
- For Sydneysiders, people in the outer north of the city are most bothered by each other
- Mortgage stress is when homeowners spend more than 30 percent mortgage
The areas where homeowners fought the hardest to pay off their mortgage have been revealed.
Mortgage stress has hindered homeowners most in the margins of Australia's largest cities, according to data from the Australian Bureau of Statistics.
Mortgage stress occurs when homeowners spend more than 30 percent of their pre-tax income on their home loan.
Mortgage stress hindered homeowners who bought property on the outskirts of Australia's largest cities, data from the Australian Bureau of Statistics Shows
Mortgage stress occurs when homeowners spend more than 30 percent of their pre-tax income on their home loan (stock image)
For Sydneysiders, those in the outer northern and southwestern suburbs of the city feel the most bottleneck, with 20 percent of them in Edmondson Park paying more than 30 percent of their income to pay their mortgage.
The Kurnell of Sutherland Shire also made the list, with 16 percent of homeowners reporting a state of stress.
The zip codes where people were hit hardest in Melbourne were in the outer northern region of the city and the southeast.
Those in the sun had a lower mortgage tax than those in Sydney and Melbourne, which more reflected the lower property prices of the city.
Sally Tindall, director of research at rateCity, told Daily Mail Australia that one of the main reasons for mortgage stress was that people had overloaded themselves to enter the real estate market.
She said the worst would be those who had chosen to climb the Sydney and Melbourne real estate market at its peak and with small deposits.
The zip codes where people were hit hardest in Melbourne were in the outer northern region of the city and the southeast
The major cities of Australia have also seen a fall in property prices in recent months, which has not contributed to mortgage lenders struggling to make ends meet, Tindall said.
& # 39; Someone who has bought on the peak can find himself with very little equity, & # 39; she said.
All eyes will be on the Reserve Bank of Australia next week to see if it will lower interest rates for the first time in three years, which could help the owners who have experienced the tricks.
& # 39; To lower the cash rate, those people can help a little, & # 39; said Tindall.
& # 39; It might mean only $ 50 or $ 60 extra per month, but that could be the whole difference. & # 39;
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