Ensure you never miss an issue of the
real estate business bulletin
Mortgage pain worse than during GFC: survey

Mortgage pain worse than during GFC: survey

by Reporter 0 comments

Staff Reporter

More than a quarter of Australians will have problems meeting their mortgage repayments over the coming months, new research has revealed.

According to RFi’s latest quarterly mortgages monitor report, 26 per cent of Australians admitted they were struggling with their repayments – the highest number on record.

“We have been conducting this survey right throughout the GFC and this is the highest percentage of Australians to openly admit they are or will struggle with their mortgage repayments,” RFi director Alan Shields told Real Estate Business.

Mr Shields said high interest rates and the rising cost of living was to blame.

“The higher cost of living is really affecting certain borrowers,” he said.

“People are concerned about how much they are spending on their groceries and how much their electricity bill is. And, at the time we were in the field, the carbon tax was a hot topic of conversation. People are concerned about this expense. Whether they are forced to pay it directly or not, it is weighing on their minds.”

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Mortgage pain worse than during GFC: survey
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?