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The Queensland postcodes in mortgage crisis

New data reveals the QLD postcodes struggling with mortgage stress as Parliament is expected to debate laws to remove consumer lending protections.

Consumer group CHOICE has released data revealing the top 10 Queensland postcodes in mortgage stress. Toowoomba and surrounding suburbs (4350) tops the list with over 9600 households in mortgage crisis, as revealed by Martin North from Digital Financial Analytics.

*Data from Digital Finance Analytics, collected in April 2021.

"Many households across Queensland are doing it tough," says CHOICE banking policy expert Patrick Veyret.

"Across Queensland, households are struggling with their mortgage repayments. In particular, families in rural and regional Queensland are struggling. Toowoomba, Ipswich, Mackay, and Cairns feature in the top 10 hardest hit postcodes in Queensland. 

"While there are promising signs of economic recovery in Queensland, many people have been left behind. High levels of underemployment, stagnant wages growth, and government support being wound back has hit Queensland families hard. The impacts of international and state travel restrictions in tourism-focused towns, such as Cairns and Mackay have placed a serious strain on household finances," says Mr Veyret. 

This data comes as crossbench Senator Pauline Hanson confirmed that One Nation will not be supporting the Federal Government's controversial policy to roll back safe lending laws. This throws the Government's plans to make lending riskier into doubt. 

"At a time when so many people are doing it tough in Queensland, allowing banks free reign to lend recklessly to people would spell economic disaster for the state," says Mr Veyret.

"The very first recommendation of the Banking Royal Commission called for safe lending laws to be enforced, not dismantled. The Government's policy to roll back safe lending laws ignores the economic reality that many people are already struggling with mortgage payments. Australians need greater protections from big banks and lenders, not less. We applaud Pauline Hanson and One Nation for standing up against big bank lobbyists and looking out for the Queensland community," says Mr Veyret.

CHOICE is calling on Queensland National Senators to vote against the Federal Government's proposal to remove safe lending laws, which will likely be debated in Parliament in the middle of June.

"The Nationals party has a proud tradition of standing up against the big banks. Farmers and primary producers were some of the worst impacted from banking misconduct. Nationals parliamentarians were instrumental in initiating the Banking Royal Commission. The Nationals need to protect regional Australians and vote against the policy to axe safe lending laws."

Media contact: 0430 172 669, [email protected]

Editor's notes:

Top 10 QLD postcodes in mortgage stress (by count)

Rank

Postcode

Suburbs

Number of households in mortgage stress

1

4350

Athol, Centenary Heights, Cranley, Darling Heights, Drayton, East Toowoomba, Finnie, Glenvale, Harlaxton, Harristown, Kearneys Spring, Middle Ridge, Mount Kynoch, Mount Lofty, Mount Rascal, Newtown, North Toowoomba, Northlands, Prince Henry Heights, Rangeville, Redwood, Rockville, South Toowoomba, Southtown, Toowoomba, Toowoomba East, Toowoomba South, Toowoomba West, Top Camp, Wellcamp, Westbrook, Wilsonton, Wilsonton Heights, Wyalla Plaza

9,693

2

4034

Aspley, Boondall, Carseldine, Geebung, Zillmere

5,893

3

4305

Basin Pocket, Brassall, Bremer, Churchill, Coalfalls, East Ipswich, Eastern Heights, Flinders View, Ipswich, Leichhardt, Limestone Ridges, Moores Pocket, Newtown, North Ipswich, North Tivoli, One Mile, Raceview, Sadliers Crossing, Tivoli, West Ipswich, Woodend, Wulkuraka, Yamanto

5,829

4

4152

Camp Hill, Carina, Carina Heights, Carindale

5,417

5

4740

Alexandra, Alligator Creek, Andergrove, Balberra, Balnagowan, Bakers Creek, Beaconsfield, Belmunda, Blacks Beach, Cape Hillsborough, Coningsby, Dolphin Heads, Dundula, Dunnrock, East Mackay, Eimeo, Erakala, Foulden, Glenella, Grasstree Beach, Habana, Haliday Bay, Hay Point, Homebush, Mackay, Mcewens Beach, Mount Jukes, Mount Pleasant, Munbura, Nindaroo, North Mackay, Ooralea, Paget, Racecourse, Richmond, Rosella, Rural View, Sandiford, Slade Point, South Mackay, Te Kowai, The Leap, West Mackay

4,850

6

4306

Amberley, Amberley Raaf, Avoca Vale, Banks Creek, Barellan Point, Benarkin, Benarkin North, Blackbutt, Blackbutt North, Blackbutt South, Blacksoil, Borallon, Cherry Creek, Chuwar, Colinton, Deebing Heights, Fairney View, Fernvale, Googa Creek, Goolman, Haigslea, Harlin, Ironbark, Karalee, Karana Downs, Kholo, Lake Manchester, Linville, Moore, Mount Binga, Mount Crosby, Mount Stanley, Muirlea, Nukku, Peak Crossing, Pine Mountain, Ripley, South Ripley, Teelah, Thagoona, Walloon, Willowbank

4,643

7

4352

Amiens, Ballard, Bapaume, Birnam, Blanchview, Branchview, Cabarlah, Cement Mills, Condamine Plains, Cutella, Derrymore, Djuan, Doctor Creek, Evergreen, Fifteen Mile, Geham, Gore, Gowrie Little Plain, Grapetree, Groomsville, Highfields, Highgrove, Iredale, Karara, Kleinton, Kulpi, Kurrowah, Lilyvale, Lyra, Maclagan, Malling, Meringandan, Meringandan West, Merritts Creek, Mount Luke, Muniganeen, Murphys Creek, Narko, North Maclagan, Oman Ama, Palmtree, Pampas, Pechey, Peranga, Perseverance, Postmans Ridge, Pozieres, Preston, Ramsay, Rangemore, Ravensbourne, Severnlea, Spring Bluff, St Aubyn, Thornville, Tummaville, Umbiram, Upper Lockyer, Whichello, White Mountain, Withcott, Woodleigh, Woolmer, Wutul, Wyreema, Yalangur, Yandilla

4,322

8

4300

Augustine Heights, Bellbird Park, Brookwater, Camira, Carole Park, Gailes, Goodna, Springfield, Springfield Lakes

3,807

9

4870

Aeroglen, Brinsmead, Bungalow, Cairns, Cairns North, Cairns Orchid Plaza, Earlville, Edge Hill, Freshwater, Kamerunga, Kanimbla, Manoora, Manunda, Martynvale, Mooroobool, Parramatta Park, Redlynch, Stratford, Westcourt, Whitfield

3,542

10

4127

Daisy Hill, Priestdale, Slacks Creek, Springwood

3,479