Region. UWS conducts mortgage stress project

The Parramatta-based UWS Urban Research Centre is conducting a project investigating the causes and consequences of mortgage stress in Western Sydney. “This is a major attempt to find out what is going on at the distressed level of the housing market. A major concern is that mortgage stress is higher in Western Sydney than in other major regions of Australia,” said Professor Phillip O’Neill, who will lead the project. Mortgage stress emerged as a concern in Western Sydney as early as 2005 when the region’s housing process stagnated, according to Reserve Bank reports.