Homeowner stress

PHOTO: FILE

Over 20,000 families in Queensland have been compelled to sell their homes in distress sales, making it the leading state in the country for such listings. Distress sales occur when properties are put on the market under forced circumstances.

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In Australia, more than 20 percent of mortgage holders have had to switch to interest-only repayments over the past two years, driven by 13 interest rate hikes and rising living costs.

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