PHOTO: Mortgage Stress
A NEW report has revealed the “ring” in each city where borrowers are most likely to go under. Are you in one of these suburbs?
SUBURBS between 30-40km from city CBDs are most at risk of falling behind on their mortgages despite the high share of investment and interest-only loans posing a risk in inner-city areas, a new report warns.
Moody’s analysts William Chung and Ilya Serov crunched the numbers to find mortgage delinquencies and defaults were higher in outer suburbs of Australian cities than inner-city areas, due to the lower average incomes and higher loan-to-value (LTV) ratios.
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