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Homeowners 'may look' to affordable housing

The number of households across the country that are struggling with their mortgage payments could indicate that homeowners will begin looking for more affordable housing, according to an industry report.

A recent announcement by investment analyst corporation Moody's has explores the details behind the news that more and more Australians have been classified as 'delinquent' in their dwelling debts.

The recent increases in resource exports have done little to stop the problems - in fact Queensland and WA are the two biggest providers of mining income and both share the mantle that comes with having the largest decline in housing repayments.

Sydney was also highlighted by the announcement, with Moody's senior analyst Arthur Karabatsos saying that the NSW capital was surrounded by a "ring of fire'', where large numbers of suburbs featured household that were struggling.

As delinquency rates begin to reach a ten-year high, it is understandable that many homeowners may start looking at other, more sustainable housing options.

In turn this could result in a shift away from large properties towards smaller townhouses or apartments.

Professionals with real estate training could also find that a number of previous homeowners may wish to be done with the stress associated with meeting mortgage payments and prefer to sell up and begin renting instead.

In either case, property investors could be well placed to benefit from this change in circumstances.





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