Best and worst QLD mortgage postcodes revealed

 

QUEENSLAND'S best and worst performing postcodes for mortgage delinquency rates have been revealed, with the Gold Coast and Mackay lagging behind the rest of the state when it comes to keeping up with repayments.

A new report from Moody's Investors Service shows the number of residential home loans that are more than 30 days in arrears is highest in Western Australia, followed by the Northern Territory, South Australia and Queensland.

Mortgage delinquencies are tipped to rise again as a result of the wind up of government assistance in the wake of the pandemic.
Mortgage delinquencies are tipped to rise again as a result of the wind up of government assistance in the wake of the pandemic.

Over the year to November 2020, Mackay was the worst performing region in the state, while mortgage holders in Brisbane's northern suburbs were the best at making their home loan repayments, according to Moody's.

Helensvale on the Gold Coast had the highest 30-plus days delinquency rate in the state, followed by Bentley Park in Cairns and Benowa - also on the Gold Coast.

The Gap in Brisbane’s northwest is one of the best postcodes for mortgage repayments. Image: AAP/Glenn Hunt.
The Gap in Brisbane’s northwest is one of the best postcodes for mortgage repayments. Image: AAP/Glenn Hunt.

Mortgage holders in Mooloolaba on the Sunshine Coast are the best at paying off their home loans on time, with zero 30-plus days delinquencies, followed by The Gap in Brisbane's north-west and Lytton in the city's east.

Mortgage delinquency rates have improved in most parts of Australia, but Moody's Investors Service is predicting they will worsen "moderately over the next few months" following the wind up of lender and government support measures and the ongoing economic fallout from the pandemic.

Thirty-day plus mortgage delinquency rates are the highest in Helensvale.
Thirty-day plus mortgage delinquency rates are the highest in Helensvale.

Over the year to November 2020, mortgage delinquency rates declined in 73 Australian regions and increased in 14 regions.

"Mortgage delinquency risks will be highest in areas with high economic and labour market dependence on industries such as tourism and hospitality," the report said.

"The tourism and hospitality sectors faced significant disruptions because of the coronavirus in 2020 and the uneven recovery this year will continue to pose challenges."

 

Queensland's 10 worst-performing postcodes for mortgage delinquency rates

 

Postcode Locality Region WACLTV Nov-20

30-plus

delinquency

 

4212 Helensvale Gold Coast 65.7% 3.42%

4869 Bentley Park Cairns 71.2% 3.21%

4217 Benowa Gold Coast 62.2% 3.17%

4280 Jimboomba Logan 69.5% 3.16%

4171 Balmoral Brisbane Inner 63.6% 2.70%

4226 Clear Island Gold Coast 65.7% 2.64%

4815 Condon Townsville 70.9% 2.64%

4213 Austinville Gold Coast 64.0% 2.44%

4218 Broadbeach Gold Coast 60.8% 2.34%

4818 Beach Holm Townsville 75.5% 2.24%

 

(Note: WACLTV is weighted average current loan to value ratio, weighted by current balance)

Sources: Moody's Investors Service and periodic investor/servicer reports

 

Queensland's 10 best-performing postcodes for mortgage delinquency rates

 

Postcode Locality Region WACLTV Nov-20

30-plus

delinquency

 

4557 Mooloolaba Sunshine Coast 64.2% 0.00%

4061 The Gap Brisbane-West 61.2% 0.20%

4178 Lytton Brisbane-East 64.4% 0.36%

4066 Auchenflower Brisbane Inner 61.9% 0.37%

4179 Lota Brisbane-East 63.2% 0.39%

4151 Coorparoo Brisbane-South 64.0% 0.43%

4032 Chermside Brisbane-North 69.8% 0.45%

4558 Cotton Tree Sunshine Coast 66.9% 0.51%

4506 Moorina Moreton Bay-North 70.9% 0.58%

4133 Chambers Flat Logan-Beaudesert 72.3% 0.59%

 

(Note: WACLTV is weighted average current loan to value ratio, weighted by current balance)

Sources: Moody's Investors Service and periodic investor/servicer reports

Originally published as Best and worst mortgage postcodes revealed



Coastal thoroughfare to undergo $980,000 transformation

Premium Content Coastal thoroughfare to undergo $980,000 transformation

“It’s important to ensure Captain Cook Drive is well maintained for both locals and...

Foundation aiming to spoil CQ Mums this Mother’s Day

Premium Content Foundation aiming to spoil CQ Mums this Mother’s Day

“I’d encourage locals to pick up a bunch or two and put a smile on the dial of your...

O’Dowd and PM targeted in union aged care funding campaign

Premium Content O’Dowd and PM targeted in union aged care funding campaign

The Health Services Union is calling for more aged care funding