‘An ugly scene’: WA home owners in mortgage stress as repayments soar

 Interest rates are starting to bite in Western Australia with new data showing the proportion of family income needed to meet loan repayments has jumped over the past year.

The latest Real Estate Institute of Australia Housing Affordability Report shows the proportion of median family income needed to make loan repayments rose 2.3 percentage points to 33.8 per cent for the December 2022 quarter.

That is up from 31.5 per cent in the September quarter and 25.3 per cent in the December 2021 quarter.

Read More: https://www.smh.com.au/property/news/an-ugly-scene-wa-home-owners-in-mortgage-stress-as-repayments-soar-20230320-p5ctnp.html



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