/ 21 September 2021

The home ownership struggle is real

Image source: Unsplash
Image source: Unsplash

Aussie home prices aren’t the only thing soaring… New research by NSW Uni has found the number of households struggling with their finances has climbed from 30% to almost 42% since February last year. With interest rates at record lows and demand for housing outweighing supply, median home values have reached new highs over the last year putting a strain on borrowers’ finances. The highest rate of mortgage stress is in the outer-Sydney electorate of Werriwa with almost 71% of people with a home loan stretched to make ends meet. Other stressed-out areas include Greenway on Sydney’s outskirts (62.6%), La Trobe (72.3%) and McEwen (59.2%) on the edge of Melbourne, and Perth’s Cowan (58.7%).

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