Cragieburn VIC has the worst arrears level in the country according to S & P Global figures.

Alarming new figures behind Australia’s mortgage crisis show 56 regions are experiencing distress levels exceeding the national average, covering hundreds of suburbs.

The latest S & P Market Overview for the first quarter of 2025 found the national average for home loan repayment arrears of more than a month was 0.97 per cent as of March – a figure exceeded by 56 SA4 regions.

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Scroll down for full list of SA4 regions with arrears exceeding national average

Arrears levels across the country as of March 2025. Source: S & P Global.

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This as four states/territories also topped the national arrears level led by Victoria’s 1.17pc, Northern Territory 1.01pc, and New South Wales 1.07pc with Australian Capital Territory on 1.29pc off a smaller, more volatile base; while four others were below national average – Tasmania (0.58pc), South Australia (0.74pc), Queensland (0.71pc), and Western Australia (0.86pc).

There was a silver lining thanks to rate cuts put in by the Reserve Bank, only one of which would have impacted the data.

S & P Global said “arrears are likely to remain low with interest rate cuts in play and inflation coming down”.

“Heightened global uncertainty and its effect on global trade and supply chains, will have downstream impacts on business and consumer confidence, affecting investment and consumer spending decisions.”

But it added “households are likely to behave more cautiously, electing to save or paydown mortgages over spending. This will help to keep arrears low.”

NSW has over 20 regions where arrears are above national average.

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The top 10 worst postcodes for mortgage arrears were named, shockingly half of them were in Victoria – with the worst about three times national average.

1. Cragieburn, VIC (3064): 3.10pc

2. Caroline Springs, VIC (3023): 2.81pc

3. Bateau Bay, NSW (2261): 2.78pc

4. Narre Warren, VIC (3805): 2.59pc

5. Liverpool, NSW (2170): 2.44pc

6. Carrara, QLD (4211): 2.20pc

7. Pakenham, VIC (3810): 2.11pc

8. Melton South, VIC (3338): 2.07pc

9. Blacktown, NSW (2148): 2.02pc

10. Campbelltown, NSW (2560): 1.94pc

S&P Global does expect unemployment to rise this year which will impact arrears levels, but forecasts it will remain below prepandemic levels.

“Interest rate cuts will ease debt serviceability pressures. But we believe they won’t make a material difference to overall arrear levels because they’re likely to be gradual. These factors will enable most households to remain current on their mortgages.”

Mortgage pressure is expected to ease with interest rates falling, allowing more households to stay current on repayments.

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SA4 REGIONS WITH ARREARS ABOVE AUS AVERAGE:

VICTORIA

Melbourne – North West, VIC: 2.88pc

Shepparton, VIC: 2.63pc

Melbourne – South East, VIC: 2.04pc

Melbourne – North East, VIC: 2.03pc

Latrobe – Gippsland, VIC: 2.01pc

Ballarat, Vic: 1.94pc

Melbourne – West, Vic: 1.86pc

Melbourne – Outer East, Vic: 1.77pc

Hume, Vic: 1.69pc

Mornington Peninsula, Vic: 1.63pc

Geelong, Vic: 1.54pc

Warrnambool and South West Vic, Vic: 1.51pc

Melbourne – Inner South, Vic: 1.24pc

Melbourne – Inner, Vic: 1.06pc

NSW

Riverina, NSW: 2.77pc

Sydney – South West, NSW: 2.05pc

Sydney – Inner South West, NSW: 2.00pc

Richmond – Tweed, NSW: 1.89pc

Sydney – Parramatta, NSW: 1.73pc

Sydney – Outer South West, NSW: 1.72pc

Central Coast, NSW: 1.68pc

Capital Region, NSW: 1.60pc

Southern Highlands and Shoalhaven, NSW: 1.57pc

Sydney – Blacktown, NSW: 1.56pc

Hunter Valley exc Newcastle, NSW: 1.55pc

Sydney – Outer West and Blue Mountains, NSW: 1.49pc

Sydney – Baulkham Hills and Hawkesbury, NSW: 1.42pc

Sydney – Inner West, NSW: 1.42pc

Far West and Orana, NSW: 1.36pc

Central West, NSW: 1.31pc

Illawarra, NSW: 1.29pc

Mid North Coast, NSW: 1.22pc

Coffs Harbour – Grafton, NSW: 1.21pc

Far West and Orana, NSW: 1.05pc

QLD

Queensland – Outback, Qld: 2.16pc

Logan – Beaudesert, Qld: 1.54pc

Mackay, Qld: 1.31pc

Sunshine Coast, Qld: 1.24pc

Fitzroy, Qld: 1.15pc

Cairns, Qld: 1.13pc

Gold Coast, Qld: 1.11pc

Moreton Bay – North, Qld: 1.10pc

Townsville, Qld: 1.05pc

Wide Bay, Qld: 1.04pc

SA:

Barossa – Yorke – Mid North, SA: 1.42pc

Adelaide – North, SA: 1.35pc

South Australia – South East, SA: 1.27pc

Adelaide – Central and Hills, SA: 1.11pc

WA:

Perth – North East, WA: 1.26pc

Western Australia – Wheat Belt, WA: 1.26pc

Mandurah, WA: 1.23pc

Perth – North West, WA: 1.14pc

Perth – South West, WA: 1.13pc

TAS:

Hobart, Tas: 1.26pc

West and North West Tas, Tas: 1.13pc

NT

Northern Territory – Outback, NT: 2.08pc

Darwin, NT: 1.04pc

ACT:

Australian Capital Territory, ACT: 1.29pc

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One Sydney street is poised to become a multi-millionaire’s row overnight with 16 neighbours primed to cash in to the tune of $200m.

One Sydney street is poised to become a multi-millionaire’s row overnight with 16 neighbours primed to double their money.

Wilberforce Ave in Rose Bay, a quiet street lined with family-friendly freestanding homes, is about to change – to the tune of more than $200m. A collective of 12 neighbours, and a separate group of four, have joined forces to reap the rewards of the NSW Government’s new Low to Medium Density housing scheme.

As of February, residential zones within 800m of nominated town centres and transport hubs can accommodate apartment buildings of up to six storeys. If affordable housing requirements are met, project heights can extend to eight storeys. The policy is expected to unlock 112,000 new homes in five years to tackle the housing crisis.

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Show me the money.

Between Wilberforce Ave and Dover Rd, 10 houses and two semis are expected to sell in one line for approximately $165m via 1st City Realty and Colliers.

“This Rose Bay super site is probably the largest consolidated development opportunity to have been publicly offered within Sydney’s eastern suburbs for many years,” said Julian Hasemer of 1st City Realty.

Colleague Brad Caldwell-Eyles said the agency was approached several years ago by four owners on Wilberforce Ave.

“But the houses were too good to knock down. Redevelopment never stacked up under the old controls. The day the LMR was announced, I reached out and said ‘your day just arrived’.”

Within weeks of the new housing reform, the 6000sq m super site was born.

“The sheer scale and multi-street frontage will almost certainly allow for a design that will optimise the new LMR controls and further benefit from the 30 per cent affordable housing bonus. It’ll also deliver a broad range of apartment price points providing wins for off-plan purchasers, developers and governments at both local and state levels,” Mr Caldwell-Eyles said.

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$200m collect

“Individually, before the LMR decision, these homes were probably worth $8m on average. In this deal, they’re likely to double that.”

A smaller 1988sq m site of four homes from 12 and 18 Wilberforce Ave is currently listed with price expectations of between $53m and $55m via Colliers agent Paul Ephron.

“This is a once in a 30-year change and the area needs it. There’s a pushback but if it’s sympathetic with the streetscape, and a quality product, it’ll be well received. It’ll be an inconvenience, until it’s a convenience – just like the changes to Kia Ora Rd in Double Bay which residents now love,” he said.

Mr Caldwell-Eyles added that apartment types will likely provide a greater offering than recently seen in new builds across the eastern suburbs.

“I want to see 100sq m two-bedrooms with studies. They’re probably going to start at about $3.5m; they’re not all going to be $15m apartments. That’s not how this will work.”

“Developers can’t put all their eggs in one basket. A good unit mix will ensure more accessible properties.”

Affordable housing in the wake of the reforms is a point of contention for many eastern suburbs residents, including Woollahra Mayor Sarah Swan.

The homes sit in a sought-after part of the Eastern Suburbs.

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“There’s absolutely nothing affordable about doubling the value of property overnight,” she said.

“From the community’s perspective, and I share this view, the NSW Government talks a very big game about housing, while falling well short of the National Housing Accord targets. These reforms are a rushed, politically panicked, ham-fisted attempt to save face for the Premier and the Planning Minister.”

She added that the changes would unleash stormwater flooding, create more congestion on local roads, and put further pressure on public schools.

“This is all at the cost of our neighbourhoods and our local communities. At what cost, quite literally, is this delivering affordable housing?” she said.

“We’ve got to define what we mean by affordable housing. Are we talking about housing which is affordable for people who are downsizing, inheriting money or who have significant assistance from family? Or are we talking about affordable housing that’s defined by the act? And is the LMR fit for purpose to deliver that kind of housing?”

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Selling your home is all about appeal and if you’re not taking care of this major property element, you might be scaring off potential buyers.

As interest rates begin to fall, many homeowners are rushing to put their properties on the market. However, there’s one often-overlooked feature that could make or break your sale.

While it may seem like nothing more than a road to your garage, your driveway can actually have a significant impact on the first impression homebuyers have on your property, according to Realtor.

And first impressions mean a lot!

Your driveway could actually sell your house faster

A thoughtfully designed and well-maintained driveway can make a huge impact on a homebuyers perception of a home – and even how quickly it sells.

“Buyers make snap judgments on a home the moment they pull up to it, and the driveway is one of the first things they see,” says real estate expert Daniel Blake.

A driveway made of interlocking stoke pavers or decorative stamped concrete, for example, instantly adds luxury and craftsmanship.

The condition of a driveway can also be a deal maker or breaker. Cracks, oil stains and weeds growing through the pavement may all give the impression of neglect.

“I’ve shown buyers beautiful homes where they hesitated because the driveway looked like it needed to be replaced,” Blake notes.

“Conversely, a freshly sealed, asphalt driveway or a newly power-washed paver surface says the home has been well taken care of and often translates to peace of mind for the buyer.”

Lastly, functionality matters.

For example, a driveway that connects to a two-or three-car garage – especially with a side entry – adds value and visual appeal.

“Buyers with children usually look for driveways that allow for safe play areas. And families with dogs love when the driveway provides easy access to a fenced backyard,” says Blake.

Some homes even have a gated driveway, which adds an extra layer of privacy and security – a huge selling point for high-end buyers.

Types of driveways and their benefits

The home has a vibrant, tiled roof and a colourful driveway. Picture: Realtor.com

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Driveways are not created equal, and each one has its own unique advantages. Some examples of driveways on residential properties include:

Straight

A straight driveway is the most traditional style and works well for home with narrower lots. It’s typically found in planned suburban communities or starter neighbourhoods.

“Simple, cheap, and easy to shovel,” says real estate agent Andrew Fortune.

Curved

A cured driveway wads a nice visual element and is often seen in custom homes or Craftsman, Tudor or French country-style homes, where the architectural character is complemented by the soft bend of the driveway.

“A curved design also increases privacy and provides a more dynamic approach to the front entry, which many buyer appreciate,” Blake explains.

This circular driveway actually takes your around the entire front of the property. Picture: Realtor.com

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Circular

Circular driveways are great for estates or older homes with charm with many buyers looking for a driveway that means they don’t have to back out of one.

Horseshoe

While they’re similar to circular driveways, horseshoe driveways are a better option for those who want extra parking space.

“A horseshoe driveway is good for homes with lots of visitors because it has two entry and exit points,” Fortune points out.

This Y-shaped driveway has swanky custom finishes. Picture: Realtor.com

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Y-Shaped

Y-shaped driveways are less common but are often found in homes built on irregularly shaped or sloped lots, especially in rural or wooded areas.

“They offer flexibility for turning vehicles around or separating access points – like one branch leading to a garage, or the other to a worship or quest quarters,” says Blake.

S-Shaped

An S-shaped driveway has a very elegant, estatelike feel. This style is poplar in Mediterranean plantation or upscale modern farmhouse-style homes.

“it creates a scene of grandeur that sticks out in buyers’ mind,” explains Blake.

Semicircle

Semicircle driveways are a good compromise for medium-sized lots and often pair well with ranch-style or single-storey homes. They’re more common in older neighbourhoods.

“Semicircle driveways give a classic look and allow for smooth exits,” says Fortune.

Double

A double driveway, which is wide enough to park two cars side-by-side, is becoming a standard expectation for many buyers today.

It adds flexibility for homeowners who may have multiple vehicles, boats, motorcycles or even a home-based business that requires extra parking.

This story first appeared on Realtor and was republished with permission

The post The driveway could be your home’s ultimate selling point that you’re overlooking appeared first on realestate.com.au.

Experienced auction buyers expect to buy more this year, but at lower prices.

Meanwhile auction sellers are expecting more foreclosures with less equity.

Despite the tariff-triggered uncertainty hovering over the economy in recent months — or possibly because of it — experienced buyers of distressed properties at auction have remained remarkably optimistic about their property acquisition prospects in 2025.

Meanwhile, auction sellers are expecting both foreclosure starts and completed foreclosure auctions to increase in 2025, providing the local community developers who buy at auction with more inventory to choose from and possibly more leverage on pricing.    

More distress, better deals

“I am anticipating more distressed properties will be coming available, and I’m looking for better deals since rehab costs are increasing,” wrote Auction.com buyer Rebecca Sequeira in response to an April buyer sentiment survey. Sequeira, whose company Arnell Homes purchases distressed properties in the Cincinnati, Ohio, area, is also treasurer of the Real Estate Investor’s Association of Greater Cincinnati. She said market conditions have not affected her willingness to buy.

Buyers like Sequeira seem to be taking Warren Buffet’s famous advice seriously: to be fearful when others are greedy, and to be greedy when others are fearful.

Nearly two-thirds (64 percent) of Auction.com buyers surveyed in February said they expect their property acquisitions in 2025 to increase, up from 60 percent of those surveyed at the beginning of 2024 and up from 54 percent of those surveyed at the beginning of 2023.

Another 30 percent of buyers surveyed said they expect their 2025 property purchases to remain about the same as in 2024, while only 6 percent said they expect property purchases to decrease.

Buyers describing themselves as local community developers were the most optimistic among buyer types, with 95 percent expecting purchases to increase or remain the same – compared to 93 percent of owner-occupant buyers and 92 percent of institutional investors.

Success with distress

Local community developers comprise the majority of buyers purchasing distressed properties at auction: 63 percent of Auction.com buyers surveyed described themselves as local community developers compared to 26 percent as owner-occupant buyers and just 4 percent as institutional investors.

Many of these local community developers have been purchasing and renovating distressed properties for years, if not decades, and know how to succeed in a variety of market conditions.

“We buy houses that are often in bad shape, repair and renovate them and sell them to owner-occupants who benefit from good houses without problems to fix,” wrote Daniela Bandas, a survey respondent from Illinois who described herself as a local community developer and said she plans to increase her property acquisitions in 2025.

Tariff-triggered trepidation

That’s not to say that market conditions aren’t impacting the buying sentiment of local community developers. 

In a quarterly buyer sentiment survey conducted in the second week of April — soon after the shock of the so-called Liberation Day tariff announcements — 38 percent of Auction.com buyers said the current market environment was making them less willing to buy, up from 34 percent in a January survey. Meanwhile, 22 percent said market conditions were making them more willing to buy, down from 24 percent the January survey. 

Despite the waning sentiment, 78 percent of buyers surveyed in April said they planned to buy the same number or more properties in the next three months as they had in the previous three months. That was down from 86 percent in the January survey but still more than three-fourths of all respondents. 

Sentiment not changing strategy

Furthermore, 42 percent of buyers said market activity over the past 90 days had not changed their bidding strategy, up from 36 percent who said that in January. 

“I won’t be changing my strategy much since I just made major changes to our underwriting early this year,” said Paul Lizell, a Florida-based Auction.com buyer who buys across the country and also trains other investors to buy at auction through his YouTube channel, The Virtual Investor.  

Lizell’s bidding strategy changes included lowering his maximum allowable offer calculation by 5 points and more than doubling his estimated property hold time from four months to nine months. 

“Since we made these changes, our profits are way up,” Lizell continued. “We were losing money on some deals and needed to stop the bleeding.  The tariffs shouldn’t have too many effects except for a possible increase in material costs.”   

Proactive bidding adjustments

Bidding behavior data on Auction.com indicates that many other local community developer buyers like Lizell had already adjusted their bidding strategies in late 2024 in anticipation of a retail housing slowdown in early 2025.

After peaking at a nearly three-year high in May 2024, the foreclosure auction sales rate on Auction.com steadily declined through November, and has largely leveled off since then — save for a two-month spike in December and January that may be a post-election bump in certainty that soon evaporated as tariff talks ramped up. This sales rate is a key auction demand metric, indicating how much volume buyers are willing to purchase at the available price points.

There are substantial regional differences in the sales rate metric. In the first quarter of 2025, the sales rate increased in half of 76 major markets analyzed by Auction.com, including New York, Philadelphia, Detroit, Washington, D.C., and Minneapolis. The markets with increasing sales rates correspond with many of the areas where Lizell said he is purchasing in 2025.

“We are trying to focus on markets with low inventory and avoid high inventory areas so our holding time is less,” he said. 

Pricing pressure on sellers

And while auction sellers as a group held pricing relatively steady in the second half of 2024, and even increased pricing in early 2025, the price auction buyers are willing to pay declined in five of the six months between May 2024 and October 2024 before rebounding somewhat late last year and early this year. That combination has widened the bid-ask spread between what buyers are willing to pay and what sellers accept at foreclosure auction.

Combined with an expected rise in foreclosure auction inventory, the widening bid-ask spread could persuade sellers to lower pricing at foreclosure auction. In an April survey of Auction.com sellers, 60 percent said they expect foreclosure starts to increase between 1 percent and 4 percent in 2025 while 67 percent said they expect completed foreclosure auctions to increase similarly.

According to the same seller survey, the seriously delinquent (SDQ) pool those foreclosures will be drawn from is comprised of properties with shrinking equity, indicating more of them will roll from foreclosure start to completed foreclosure. Survey respondents estimated the average loan-to-value ratio of their SDQ inventory at 82 percent, down from 65 percent in an Auction.com seller survey a year ago.

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