Original article by Roy Morgan
Market Research Update – Page: Online : 26-Jul-23

New research from Roy Morgan shows that an estimated 1.43 million mortgage holders (28.7%) were ‘At Risk’ of ‘mortgage stress’ in the three months to June 2023. This period encompassed two interest rate increases of 0.25%, taking official interest rates to 4.1% in June. This is the equal highest number of mortgage holders considered ‘At Risk’ of mortgage stress for more than 15 years, since there were 1.46 million ‘At Risk’ in May 2008. The number of Australians who are ‘At Risk’ of mortgage stress has increased by 539,000 over the last year. However, the overall number of Australians in mortgage stress remains below the high reached during the Global Financial Crisis in early 2008 of 35.6% (1,455,000 mortgage holders). Meanwhile, the number of mortgage holders considered to be ‘Extremely At Risk’ has increased to 943,000 (19.6%) in the three months to June, which is significantly above the long-term average over the last 15 years of 15.4%. 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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