These are the 10 worst postcodes for mortgage stress in Queensland

first_imgNearly a third of Australian households are in mortgage stress, according to new research. Picture: Thinkstock.IT HAS seen some huge money spent on homes in the past year, but householders in this Brisbane southside pocket are now feeling the pressure of paying off equally big mortgages.Camp Hill, Carina and Carindale have topped a list of areas across Brisbane where homeowners are having the most difficulty making loan repayments, according to the latest figures from Digital Finance Analytics.Nearly 3500 households are in mortgage stress in the 4152 postcode — up from 3082 only a month ago — and 87 are at risk of defaulting on their home loans in the next 12 months.New figures from property data firm CoreLogic show more buyers chose to invest in Camp Hill in 2017 than in any other Brisbane suburb — splurging $231 million on houses. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE The Reserve Bank of Australia is tipped to increase interest rates this year. Image: AAP/Dean Lewins.Mr North said he expected some upward pressure on mortgage rates in the next year due to international funding pressures, a potential for local rate rises and margin pressure on the banks.Financial markets are now pricing in a 60 per cent chance of the Reserve Bank lifting the official cash rate by August.Economists at CommSec and AMP predict interest rates could start rising in late 2018.TOP 10 POSTCODES FOR MORTGAGE STRESS IN QLD 1. 4350 (Toowoomba region)2. 4152 (Camp Hill, Carina, Carindale) 3. 4740 (Mackay region)4. 4034 (Aspley, Boondall, Geebung) 5. 4305 (Ipswich region) 6. 4352 (Toowoomba region) 7. 4127 (Daisy Hill, Slacks Creek, Springwood) 8. 4078 (Ellen Grove, Forest Lake) 9. 4161 (Alexandra Hills) 10. 4500 (Bray Park, Cashmere, Strathpine) (Source: Digital Finance Analytics) Digital Finance Analytics principal Martin North.Overall, mortgage stress improved slightly in Queensland in December, with 156,097 households in stress — down from 157,019 in November.But the probability of default rose to around 9500 households, and only a small jump in interest rates could push that much higher.More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoThe postcode encompassing the Toowoomba region remains the most stressed in the state, with 5400 households in mortgage stress and more than 200 at risk of default.Nationally, Digital Finance Analytics estimates nearly a third of households are in mortgage stress, with the number rising from 913,000 in November to 921,000 last month. HOW THE RICH PEOPLE LIVE center_img Camp Hill is one of the suburbs where households are in the most mortgage stress. Picture: Patria Jannides.Digital Finance Analytics principal Martin North said households in that postcode were showing high levels of stress because they had taken on larger mortgages.“I think the slightly more affluent households could be the biggest problem, particularly if interest rates do start to rise,” Mr North told The Courier-Mail.He said lending was growing at “unsustainable” levels and there were many households currently holding home loans which would not be approved in the current environment of record high household debt relative to income.“This is a significant sleeping problem and the risks in the system are higher than many recognise,” he said. THE COST OF RENOVATING REVEALED last_img read more