The Reserve Bank of Australia’s (RBA) bi-annual Financial Stability Review (FSR), released on Friday afternoon, contained some useful commentary and data on the property bust taking place across Australia’s mining regions:
Housing loan performance in Western Australia and Queensland in particular deteriorated further over the first half of 2016. Applications for property possession in Western Australia have edged higher over the past two years, although nationally they continue to decline as a share of the dwelling stock…
Non-performing mortgage loans have… been most pronounced in mining areas where housing market conditions have deteriorated sharply, though only a small share of banks’ mortgage lending is to these areas…
