LEICHHARDT mortgage delinquencies increase to record levels

Discussion in 'Property Market Economics' started by DowntownBlock, 19th Sep, 2017.

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  1. DowntownBlock

    DowntownBlock Well-Known Member

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    This line regarding leichhardt caught my eye as the total number has doubled. Speaks to recent changes in serviceability! Are there really that many people who have been affected by recent slight rise in rates due to macroprudential tightening!?! . . .

    This data (which forms) pricing for RMBS securities is closely followed by credit analysts and interest rate strategists . . .

    Leichhardt data result caught my as did QLD where missed repayments are on the up.

    One of the few weaker performing suburbs in NSW was Leichardt in Sydney's Inner West in which arrears had doubled from 1.03 per cent to 2.12 per cent, ranking it the seventh worst performing post code in the state.

    Read more: Home-loan arrears hit five-year high: Moody's
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    Mortgage delinquencies increased to record levels in Western Australia, the Northern Territory and South Australia while also increasing in Queensland and the Australian Capital Territory.

    Read more: Home-loan arrears hit five-year high: Moody's
    Follow us: @FinancialReview on Twitter | financialreview on Facebook
     
    DowntownBlock, 19th Sep, 2017
    #1
  2. Tony66

    Tony66 Well-Known Member

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    Is the repport backed by an increase in any repossessions in the area?
     
    Tony66, 8th Oct, 2017
    #2
  3. 2FAST4U

    2FAST4U Well-Known Member

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    This will become more common once interest rates rise back to historical levels. Anyone that has purchased in the last couple of years has taken on huge amounts of debt and are relying on low rates + pay increases to ride out the storm (myself included).
     
    2FAST4U, 8th Oct, 2017
    #3
  4. DowntownBlock

    DowntownBlock Well-Known Member

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    No haven't been able to locate repossession data to correlate.

    Should know more in coming months.
     
    DowntownBlock, 8th Oct, 2017
    #4
  5. Piston_Broke

    Piston_Broke Well-Known Member

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    I'd say residential properties are also at historical highs.
     
    Piston_Broke, 8th Oct, 2017
    #5
  6. petewargent

    petewargent Buyer's Agent

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    Delinquencies are extraordinarily low in NSW & VIC, they can practically only go up from here.

    On the other hand look at WA & NT go.

    upload_2017-10-9_8-55-4.png
     
    petewargent, 9th Oct, 2017
    #6
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  7. DowntownBlock

    DowntownBlock Well-Known Member

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    Crazy how inner city Sydney delinquencies are rising in such a strong employment market.

    As you say, only way is up.
     
    DowntownBlock, 11th Oct, 2017
    #7
  8. DowntownBlock

    DowntownBlock Well-Known Member

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    Prices down 4% in leichhardt last quarter... are you local - seeing any interesting market action?
     
    DowntownBlock, 13th Oct, 2017
    #8