Mortgage Nation 2

Top level findings:

  • The average Australian household with a mortgage could suffer a $15,000 annual hit through higher servicing costs and inflationary pressures.
  • Rising costs and higher debt servicing will potentially impact broader consumption and risk, sending Australia into a period of recession.
  • Millennials appear most at risk; if forced to sell the family home as interest rates rise, those under 35 risk being left with substantial debt if house prices fall to pre-COVID levels.
  • Recent borrowers most at risk live in Western Sydney, South Western Sydney, outer Brisbane and Perth, Northern Adelaide and in parts of regional Australia.

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