Original article by Roy Morgan
Market Research Update – Page: Online : 23-Nov-22

New research from Roy Morgan shows that an estimated 1,013,000 mortgage holders (22.6%) were ‘At Risk’ of ‘mortgage stress’ in the three months to October 2022. This period encompassed two interest rate increases of 0.5% and an increase of 0.25% in early October, taking official interest rates to 2.6% – the level since August 2013. Since then, there has been another interest rate increase of 0.25% in November. Despite these interest rate increases the proportion of mortgage holders considered ‘At Risk’ of mortgage stress is well below the high reached during the Global Financial Crisis in early 2009 of 35.6% (1,455,000 mortgage holders). The number of mortgage holders now considered ‘At Risk’ is now just below the long-term average over the last 15 years of 22.8%. Meanwhile, the number of mortgage holders considered ‘Extremely At Risk’ increased to 619,000 (14.4%) in the three months to October, which remains clearly below the long-term average over the last 15 years of 659,000 (15.9%). These are the latest findings from Roy Morgan’s Single Source Survey, based on in-depth interviews conducted with over 60,000 Australians each year including over 10,000 owner-occupied mortgage-holders.

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