PHOTO: Westpac
Westpac has reported a rise in the number of people missing mortgage payments amid a sluggish economy and a soft housing market.
Australia’s second-largest bank on Monday said 90-plus-day delinquencies, the overall percentage of loans about three months overdue, were up eight basis points over the third quarter to 0.9 per cent.
The country’s housing market has been under immense strain, with housing prices having fallen every month since late 2017.
But recent encouraging signs in June from Sydney and Melbourne, and interest building from Chinese buyers, a key base, have spurred hopes that things may be improving.
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