Home News Mortgage delinquencies in NSW at a 10-year low

Mortgage delinquencies in NSW at a 10-year low

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New South Wales saw the biggest decline in its 30-plus delinquency rate in the 12 months to November 2015, the latest data from Moody's Investor Service showed. It decreased by 0.17 per cent to 0.85 per cent, which also happened to be its lowest level since 2005.

"Low interest rates and a weaker Australian dollar have led to a pick-up in housing, higher education, tourism, and agriculture," the report said, showing that NSW's mortgage performance has benefitted from prevailing labour and economic market conditions.

Aside from NSW, Queensland is the only other state to experience a fall in its 30-plus delinquency rate by 0.04 per cent to finish at 1.37 per cent.

Tasmania, on the other hand, recorded the biggest increase in its 30-plus delinquency rate with an increase of 0.56 per cent to 1.68 per cent. Western Australia has the highest 30-plus delinquency rate in Australia as it rose by 0.48 per cent to 1.71 per cent.

South Australia's delinquency rate rose by 0.09 per cent to 1.63 per cent, followed by the ACT, up 0.06 per cent to 0.82 per cent.

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