Original article by Roy Morgan
Market Research Update – Page: Online : 3-Sep-26

New research from Roy Morgan shows that 32.5% of mortgage holders were ‘At Risk’ of ‘mortgage stress’ in the three months to July 2026, up 2.2% points from May. This is equivalent to 1,786,000 people (up 180,000 on a month earlier), and the highest level of mortgage stress for 18 years. The number of Australians ‘At Risk’ of mortgage stress is up 341,000 on a year ago, after the Reserve Bank cut interest rates to 3.85% in 2025) before raising them to 4.35% so far in 2026. The rising level of mortgage stress is due to a combination of the RBA’s interest rate increases in 2026 and pressure on the labour market; Roy Morgan’s July labour market report shows overall employment – and importantly full-time employment – are both down on highs reached earlier in the year, and the negative impacts on household incomes which have softened since earlier in the year. Meanwhile, the number of Australians who are considered to be ‘Extremely At Risk’ of mortgage stress is now numbered at 1,210,000 (22% of mortgage holders); this is significantly above the long-term average over the last two decades of 16.4%.

CORPORATES
ROY MORGAN LIMITED, RESERVE BANK OF AUSTRALIA