Sydney dominates mortgage stress top 10
09/06/08 11:25 AM
By finance reporter Adrian
Thirsk
New research suggests a growing divide between rich and poor as mortgage stress continues to climb.
Ratings agency Fitch has analysed 947,000 residential mortgages across the nation.
It found that mortgage arrears are rising nationally but are still low at 1.88 per cent. Western Australia has the lowest number, but the situation there is deteriorating the fastest.
Fitch managing director Ben McCarthy says there is a stark disparity between rich and poor suburbs. "Nine of the top 10 worst performing postcodes in the country are actually in New South Wales, and eight of those nine are actually in south-western and western Sydney," he said.
Click here for full story
New research suggests a growing divide between rich and poor as mortgage stress continues to climb.
Ratings agency Fitch has analysed 947,000 residential mortgages across the nation.
It found that mortgage arrears are rising nationally but are still low at 1.88 per cent. Western Australia has the lowest number, but the situation there is deteriorating the fastest.
Fitch managing director Ben McCarthy says there is a stark disparity between rich and poor suburbs. "Nine of the top 10 worst performing postcodes in the country are actually in New South Wales, and eight of those nine are actually in south-western and western Sydney," he said.
Click here for full story