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Below is an interesting tid-bit from RBA Assistant Governor (Financial Markets), Guy Debelle’s speech yesterday at the 28th Australasian Finance and Banking Conference: Western Australia’s mortgage arrears have jumped and are easily the highest in the nation, according to data drawn from Australian securitised mortgages:
The deterioration is obviously due to the mining-induced slowdown, which has seen housing rents and prices fall sharply (see yesterday’s post).
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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