Distressed property listings surge across Australia

Mortgage stress is mounting in the property market, with the country’s distressed listings surging almost 30 per cent since the same time last year as homeowners grapple with higher repayments and rising cost of living. SQM Research figures show distressed property listings jumped a monthly 8 per cent nationally in September, to 4,872 properties and are now 29.2 per cent higher than the same time last year. In NSW, distressed listings rose 10.5 per cent in September to 1,054 listings and is now 10.6 per cent higher than a year ago. While recently released October figures put national distressed listings up to 4,906, rising from 3,724 in October last year. SQM Research owner and director Louis Christopher said it was no question that economic pressures were contributing to the rise in distressed listings, although they still remain relatively low. 1502/116 Bathurst Street, Sydney mortgagee in possession sale listed for $2.25m to $2.475m. Mortgagee in possession land listed for offers above $750,000 at 14 Lassig Street, Moore Park Beach, Qld “It’s always economic,” he said. “It should be said that we’re coming from a low base, so the rises we’re recording, distressed activity, is not...