Craigieburn topped Moody Investors Service Australia’s residential mortgage delinquency data map, which was released late last month.
The data shows that delinquency rates in Craigieburn increased in the 12 months to November 2015.
According to the report, 2.64 per cent of home owners were 30 days or more behind on their mortgage in November 2014, rising to 4.41 per cent 12 months later.
South Morang also recorded an increase in mortgage delinquency, with the rate there rising from 1.88 per cent in November 2014 to 2.60 per cent in November last year, making it the sixth worst performing suburb in the state.
Lentara UnitingCare financial inclusion and community development manager Casey O’Brien, who manages a financial counselling service that covers Hume, said mortgage delinquency is an ongoing problem for the area.
He said while people from around Hume sought his services, there was a higher proportion of home owners from Craigieburn seeking help, despite the suburb often being billed as affordable.
“People rely on the money they had when they took out the mortgage, but then they go through life changes and they don’t have a buffer,” Mr O’Brien said. “Banks will generally build in a bit of a buffer when they give you money, but often people are so tightly geared.
“It is getting harder to buy a home at a price that doesn’t put pressure on people.”
Mr O’Brien said home owners often failed to account for children, illness, changes in jobs resulting in reduced income, or even one partner having to give up work.
He said home owners experiencing financial difficulties should talk to their bank and seek help as soon as possible.
