Original article by Roy Morgan
Market Research Update – Page: Online : 24-Oct-24

New research from Roy Morgan shows that 1,724,000 mortgage holders (28.3%) were ‘At Risk’ of ‘mortgage stress’ in September 2024. This represents a decrease of 0.2% points on the June figures, prior to the Stage 3 tax cuts that increased household income for millions of Australians. However, modelling by Roy Morgan shows that the number of mortgages ‘At Risk’ will increase to new record highs in November and December if the RBA raises interest rates by 25 basis points in both months. The number of Australians ‘At Risk’ of mortgage stress has increased by 917,000 since May 2022, when the RBA began a cycle of interest rate increases. Meanwhile, the number of mortgage holders considered to be ‘Extremely At Risk’ of mortgage stress is now numbered at 1,082,000 (18.3% of mortgage holders), which is significantly above the long-term average over the last 10 years of 14.6%. 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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