As we continue our analysis of mortgage stress, using data from our household surveys, today we look at South Australia. With 24% of households in mortgage stress across the state, this is one of the higher proportions in the country currently; thanks to limp income growth, higher unemployment and lower absolute income levels. Home prices have not move up so much, but then, the price to income and loan to income ratios are no less extreme than in other states.
Here is the map centred on Adelaide, showing the relative number of households we asses as being in mortgage stress.
Here is a list of the top 10 across the state. The highest concentration is in Paralowie, a suburb in the north of Adelaide, South Australia. It is predominantly a residential suburb. Many of the properties are valued in the range of 250-350k. We have this classified in our outer suburban zone, and the households are predominately battling urban. Next is
Next time we look at VIC.
