The SEQ postcodes where people find it hardest to pay their mortgage

The Brisbane and Logan suburbs of Kingston, Doolandella and Richlands are among those with the highest rate of mortgage stress in the state, and in the country.

The two postcodes of 4114 (Kingston, Woodridge, Logan Central) and 4077 (Doolandella, Durack, Inala and Richlands) have the highest rate of mortgage holders who are more than 30 days behind on their home loan repayments, according to a report from ratings agency Moody’s.

The report found 4.19 per cent of mortgage holders in the Logan postcode of 4114 were at least a month behind in their repayments – now the fourth-worst rate in Australia – along with 3.31 per cent of mortgage holders in the south-west Brisbane postcode of 4077.

“High interest rates and cost-of-living pressures will continue to weigh on home loan borrowers,” Moody’s said. “The combination … has depleted the pool of savings that households built up during the pandemic, raising the risk of mortgage delinquencies.”

The Queensland postcodes under the most stress are:

• 4114: Kingston, Woodridge, Logan Central (4.19 per cent)
• 4077: Doolandella, Durack, Inala, Richlands (3.31 per cent)
• 4285: Beaudesert, Cedar Vale, Allenview (3.13 per cent)
• 4213: Springbrook, Mudgeeraba, Tallai, Worongary – Gold Coast (2.94 per cent)
• 4216: Biggera Waters, Runaway Bay, Paradise Point – Gold Coast (2.89 per cent)
• 4818: Beach Holm, Black River, Burdell – Townsville (2.61 per cent)
• 4815: Condon – Townsville (2.56 per cent)
• 4078: Ellen Grove, Forest Lake – Brisbane (2.52 per cent)
• 4124: Boronia Heights, Greenbank, New Beith – Logan (2.50 per cent)
• 4352: Ballard – Lockyer Valley Region (2.39 per cent)

Many of the postcodes with the lowest level of mortgage stress in Australia, however, can also be found in Brisbane.

“Brisbane North” had the lowest delinquency rate in the south-east of 0.7 per cent, followed by “Brisbane Inner City” (0.92 per cent), “Brisbane South” and “Moreton Bay South” (both 1.01 per cent).

“Most of the areas with the lowest delinquency rates are in capital cities, particularly in Sydney and Brisbane, where there has been strong house price and income growth,” the report said.