Mortgage Stress Intensifies In May
Kanebridge News
Share Button

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.



MOST POPULAR

As tariffs bite, Sydney’s MAISON de SABRÉ is pushing deeper into the US, holding firm on pricing and proving that resilience in luxury means more than survival.

Early indications from several big regional real-estate boards suggest March was overall another down month.

Related Stories
Property
Jeff Bezos’s Beverly Hills Neighbour Puts Sleek Mansion up for Sale
By CHAVA GOURARIE 22/04/2025
Property
Property of the week: 59 Augustine St, Hunters Hill, NSW
By Kirsten Craze 18/04/2025
Property
Canadian Property Market Hurt by Tariff Concerns
By Robb M. Stewart 15/04/2025
Jeff Bezos’s Beverly Hills Neighbour Puts Sleek Mansion up for Sale

The nearly 10,000-square-foot home stands right at the entrance to the Amazon billionaire’s grand, $165 million estate.

By CHAVA GOURARIE
Tue, Apr 22, 2025 2 min

A home that’s right at the entrance to Jeff Bezos’s Beverly HIlls estate, which the billionaire purchased for $165 million in 2020, is now on the market asking $19.8 million.

Shaded by mature olive trees, the three-story modern mansion on Angelo Drive spans nearly 10,000 square feet, and includes five bedrooms, a bar and lounge, a home cinema, a pool with floating benches, and a 15-car garage.

The modern home centers around a striking wood staircase that extends through all three floors, creating an eye-shaped spiral.

Other design choices include a full-height black marble fireplace, herringbone wood flooring, grayscale marble backsplashes in the kitchen and bathroom, banks of floor-to-ceiling windows and a seating area in the middle of the pool.

There is also an outdoor kitchen and eating area poolside, and a living space with sliding doors that open directly onto the pool deck, for indoor/outdoor living.

The home was built in 2021 and designed by Gabbay Architects for the owner, who purchased the underlying property for $4.1 million in 2015, according to property records accessed through PropertyShark.

The seller, who runs a Beverly Hills-based plastic surgery practice, could not immediately be reached for comment.

The Benedict Canyon house came to market Friday with Tomer Fridman of Christie’s International Real Estate. He could not immediately be reached for comment.

The Bezos estate is also known as the Warner Estate, named after its first owner, Hollywood mogul Jack Warner of the Warner Bros.

After Warner, the 9-acre estate was owned by music executive and film producer David Geffen, followed by Bezos. The property includes a palatial Gregorian Revival mansion built in 1939 and designed by architect Florence Yoch to befit the status of one of the most powerful men in Hollywood.

At $19.8 million, the new listing offers quite a deal compared to other properties neighbouring Bezos. In Florida, the owner of a vacant lot next door to the Amazon founder’s estate on Indian Creek Island is asking $150 million for it.

MOST POPULAR

Living to 100 takes more than good genes—researchers say grit, a positive mindset, and a little stubbornness might be just as important as diet and exercise.

The Mayfair home, listed for £8.25 million, once belonged to the Earls of Lindsay.

Related Stories
Lifestyle
5 minutes with: Craig Wing, Citizen Kanebridge Ambassador
By Jeni O'Dowd 01/04/2025
Money
Alibaba to Sell Stake in Chinese Hypermarket Operator
By P.R. VENKAT 02/01/2025
Money
Temu Owner PDD Posts Slowest Revenue Growth Since Early 2022
By JIAHUI HUANG 21/03/2025
0
    Your Cart
    Your cart is emptyReturn to Shop