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Australians feeling the pinch of monthly repayments

Australians under expenditure related stress 16000646 800468900 0 0 7054801 300

New research by analysis and investor group Moody's has revealed that the number of Australian homeowners who are struggling to make their mortgage payments has increased over the past year.

Moody's vice president and senior analyst Arthur Karabatsos says: "Mortgage performance has shown a material deterioration since our last regional delinquency report in October 2010."

Karabatsos points out that the number of regions that have shown rises in mortgage delinquencies increased from seven to 28 in the last 12 months.

Interestingly, Moody's have drawn attention to the disconnection between everyday Australians struggling to pay their mortgage in areas currently benefitting from the mining boom.

Data suggests that the financial rewards being netted by resource companies is not flowing onto these regions - as the biggest mortgage performance problem areas are located in Western Australia and Queensland.

Australians who are currently under pressure from monthly expenses may do well to try and create some space for savings in their energy bill.

The prices of gas and electricity can vary between suppliers and households may be able to save much-needed money by switching providers.

Posted by Callum Fleming