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Liam

Liam

Delinquencies have increased to its highest level in Victoria since 2005 and since 2013 in NSW, according to a new report by Moody’s Investors Service. As of May 2020, Victoria and NSW saw delinquency rates at 1.85 per cent and 1.71 per cent, but were up 0.20 per cent and 0.23 per cent from May 2019 and at their highest level since 2005 and 2013, respectively. “We expect mortgage delinquency rates will increase on average in Australia over the next year given the ongoing economic fallout from the coronavirus. Delinquency rates will vary across states, cities and regions, depending on economic circumstances in each area, which will be closely tied to virus outbreaks and measures to contain them,” Moody’s vice-president and senior credit officer Alena Chen said. According to Ms Chen: “Apartment prices are more at risk than house prices given the lower demand for units in the current uncertain economic environment. Prices in areas with a high concentration of coronavirus-exposed industries will also be at risk.” Australian house prices declined 2.8 per cent on average over the five months to September, led by a 2.9 per cent decline in Sydney and a 5.2 per cent decline in Melbourne. Prices rebounded in Brisbane, Perth and Adelaide in September, rising over the month after earlier falls. Source: x Mortgage delinquency rates to continue rising in 2... Australian mortgage delinquency rates will continue to increase over the next year due to the ongoing economic fallout from the COVID-19 outbreak, although arrears will vary by region depending on eco... www.smartpropertyinvestment.com.au
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