Australian Property Downturn 2018
Channel: Daily Insight
Date: 11/10/2018

Australian house prices have been in the news again, and not for the right reasons. Experts warn that due to factors such as unemployment, underemployment, lacklustre wage growth, weak house prices, and the looming threat of interest rate rises, mortgage stress is set to surge. Rates of mortgage default are highest in the mining states of Western Australian and Queensland. 15 of the top 20 worst performing suburbs are in these two states. Credit ratings agency Moody’s suggests that the situation will only get worse as more and more interest-only loans are converted to principal and interest loans over the next 12 months. The Australian dream of owning your own home is looking less and less likely for a growing number of Australians.

#australianeconomy #propertyinvestment #housingbubble2 #housingmarket