Local News

More Local Housesholds Under Mortgage Stress


New data shows 1.84 million households are now under mortgage stress in Australia, up from 1.7 million in July.

The Reserve Bank has hiked the cash rate for a forth time this year, to 1.85 per cent.

According to the Otivo Mortgage Stress Report, there are increasingly more local households spending more than 30 per cent of their pre-tax income on their home loan repayments.

Towns and suburbs in SA most affected include Athelstone, Belair, McLaren Vale, Myponga, Aldgate, Langhorne Creek, Strathalbyn, Crafers, Stirling, and Murray Bridge.

Photo by Almada Studio via pexels.com, supplied