Mortgage Stress Intensifies In May
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Mortgage Stress Intensifies In May

Rental stress also heightened throughout the month.

By Terry Christodoulou
Wed, Jun 9, 2021 11:54amGrey Clock < 1 min

The proportion of households experience mortgage stress has increased in NSW and Canberra during May according to analysis by Digital Finance Analytics (DFA).

It comes as sky-high home prices continue to stretch family finances with 41.3% of NSW households now in mortgage distress – a rise from 38.2%. Mortgage stress is when an average home buyer is using more than 30% of their income to cover repayments.

Elsewhere, 42% of Canberra families struggled, a rise from 38.3% over the same period.

The rise in mortgage stress can be likely attributed to the ending of JobKeeper in March.

This was acutely felt in Tasmania, where 56.8% of households were in mortgage stress.

The market was not any more accommodating in the rental segment with rental stress also surging across all states except the Northern Territory.

Rental stress in may jumped by 4.59% in Canberra, 3.46% in NSW, 3.46% in Victoria and 3.29% in Queensland.

“There was a significant rise in rental stress, as the fallout from the removal of renter protections hit, and the JobKeeper and JobSeeker support ended,” Mr North, Director of DFA said.

Rental stress, similar to mortgage stress, occurs when a person pays more than a third of their income on rent.

The number of households in rental stress nationwide rose from 1.78 million in April to 1.95 million in May.

“Until incomes rise, the conditions are set for more pressure on household finances,” Mr North forewarned.


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Plenty of people are looking to get away from it all. But most are reluctant to give up the conveniences and small luxuries of modern living.

This split-level property at 166 Westwood Street, Bridport on the north coast of Tasmania offers both, with direct access to a stunning coastline as well as easy living in a three-bedroom, Hamptons-style home. Just a 10-minute walk from Mermaids Beach in the Granite Point dress circle, the house on a 1206sqm site is a two-hour drive from Devonport and the Spirit of Tasmania terminal port.

Central to the floorplan is a generous, north facing open plan living space with raked ceilings and wraparound bay windows leading onto a sun-filled deck via sliding doors.

Entry is via a spacious reception area with integrated hall table and storage cupboard. A short hallway offers access to the master suite to the right and secondary bedrooms to the left, or through to the open plan living area to the rear.

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Address: 166 Westwood Street, Bridport

Inspection: By appointment

For sale: By Offer

Price guide: $2.3m t0 $3m

Agent: Andrew MacDonald, The Agency, 0409 368 151

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