Mortgage stress set to drop from near-record highs in coming months

The number of Australian homeowners facing mortgage stress is at a near-record high, but is set to drop in the coming months as the stage 3 tax cuts provide much-needed financial relief to households.

According to Roy Morgan, 30.3 per cent of all mortgage holders, or just over 1.6 million people, are at risk of falling into stress as of June – an increase from May but lower than the 16-year high reached at the start of 2024.

While households are continuing to feel the bite of the cost-of-living crisis, the pollster expects that number to drop in the next few months.

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