๐จ๐ฟ๐ด๐ฒ๐ป๐ ๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐ฆ๐ฎ๐น๐ฒ๐ ๐๐ฎ๐น๐น๐ถ๐ป๐ด
Distressed property listings are at significantly lower levels than five years ago, despite the fact the cash rate is now 2.85 percentage points higher.
Domain research shows that between 2019 and 2024, the share of distressed listings fell in seven capital cities and remained unchanged in one:
* Hobart = from 0.7% in 2019 to 0.7% in 2024
* Adelaide = 2.6% to 0.9%
* Canberra = 2.3% to 0.9%
* Melbourne = 2.0% to 1.4%
* Perth = 6.2% to 1.6%
* Sydney = 4.9% to 2.8%
* Brisbane = 8.4% to 4.5%
* Darwin = 7.0% to 4.6%
Domain's chief of research and economics, Nicola Powell, said that although borrowers were now making larger mortgage repayments, few people needed to urgently sell their properties.
โThe ongoing decrease in distressed listings is notable, especially considering the transition of mortgage holders rolling off their ultra-low home loan rates to the current mortgage environment,โ she said.
#property #realestate #homeloans
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