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The Guardian - AU
The Guardian - AU
National
Caitlin Cassidy

Distressed housing sales rise as owners succumb to Australia’s rising interest rates

Interest Rates CoreLogic Hayden Groves Tim Lawless Covid-19 Sydney
Houses in Melbourne
Nearly 17% of investors sold a property in the two years to August, and a further 19% said they intended to sell within the next year. Photograph: Diego Fedele/AAP

Distressed housing listings are on the rise as mortgage holders struggle under the weight of seven consecutive interest rate hikes.

The number of homeowners selling properties under distressed conditions has risen by about 15% since interest rates began to increase, SQM Research found, from 5,753 in May to 6,658 in October. At the same time, the housing market is slowing.

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