Stress over jobs, mortages and meet­ing costs

Port Douglas & Mossman Gazette - - FRONT PAGE -

MORT­GAGE stress is on the rise as Aus­tralians worry about los­ing their jobs.

The lat­est Gen­worth home­buyer con­fi­dence in­dex, which tracks the mood of peo­ple who own or are think­ing of buy­ing a prop­erty, found nearly a quar­ter of those with a home loan had prob- lems meet­ing re­pay­ments.

The re­sult was up from 18 per cent six months ago, and re­flected in­creas­ing con­cerns about un­em­ploy­ment and job se­cu­rity, Gen­worth chief com­mer­cial of­fi­cer Brid­get Sakr said.

‘‘There is un­cer­tainty from a lo­cal and global per­spec­tive,’’ she said.

Ms Sakr said wor­ries about ei­ther job losses or re­duced hours at work, as well as cost-ofliv­ing pres­sures, had a big­ger im­pact on bor­row­ers than fall­ing in­ter­est rates.

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