Advertisement
The Australian Bankers Association (ABA) yesterday released data on its members’ deferred loans, which shows the mortgage cliff that was towering over Australia’s property market last year has shrunk into a molehill, down 97% from its peak at the end of February:
Mortgage cliff gone.
In raw numbers, there are now only 22,480 mortgages still under deferral, down 95% from the peak of 448,864 deferrals in April 2020:
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.