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NSW tops nation's default list

Staff Reporter 1 minute read

A RBA-funded University of Western Sydney survey has found that 19 of the top 20 postcodes for mortgages that are more than one month in arrears are in NSW.

Top areas for mortgage defaults were Nelson Bay and Raymond terrace on NSW's north coast, Katoomba in the Blue Mountains, and Greenacre, Gilford, Fairfield and St Marys which are all in the Western suburbs.

The findings, revealed today in The Daily Telegraph, also showed that in some parts of Sydney the jobless rate has almost doubled in a year; in some areas up to one in 16 homeowners are defaulting on their mortgage.

Areas along the M4 motor way, Windsor Road and the Canterbury corridors were hardest hit by the economic slowdown. In Liverpool alone the unemployment rate had jumped to 10.5 per cent – the highest level since 2001.

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NSW tops nation's default list
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