Do you live in a mortgage stress city?

Keeping the mortgage paid is the most difficult financial management trick most of us have to pull off, but it's undoubtedly more stressful in some places than others. The ABC reports that an analysis of almost a million residential mortgages by Fitch found that nine of the ten worst-performing postcodes in terms of mortgage defaults in Australia were in NSW. Wetherill Park in south-western Sydney was the worst-performing suburbs, while Helensvale in Queensland was the only non-NSW entry in the top 10. Western Australia had the lowest percentage of mortgages in arrears, but that number was growing faster than anywhere else.

So is there a moral to the story? Don't get a mortgage in NSW if you can help it, apparently. And wherever you live, try and stick to a budget.


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