Comment: Auction Results Sydney

Digital Finance Analytics Martin North said across the city there were just over 20,000 homeowners owing over $1 million on their mortgages.

COVID has been a catalyst for people who had large mortgages but were previously financially comfortable.

The largest debts were in Sydney’s “aspirational” suburbs that typically attracted upper middle-income buyers such as Chiswick, Lane Cove, Wahroonga, Mosman and Maroubra.

Homeowners in premium suburbs such as Bellevue Hill or Vaucluse tended to have lower personal debts and greater equity because they bought more properties outright or through business interests.

 

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