Australia's mortgage blackspots, according to Fitch Ratings The Fitch Ratings Mortgage Delinquency Report found Queensland remains the worst-performing state for borrowers more than 30 days behind on their mortgages / File RATE cuts have helped ease the number of mortgage delinquencies across Australia but many postcodes have retained their dubious title of repayment blackspots. A major study by Fitch Ratings, the credit ratings agency, revealed that by the end of September 2012 overall mortgage delinquencies across Australia decreased to 1.2 per cent, down from 1.6 per cent at end of March 2012. The current rate of delinquencies is below the five-year average of 1.56 per cent. The Fitch Ratings Mortgage Delinquency Report found Queensland remained the worst-performing state for borrowers more than 30 days behind on their mortgages - largely due to flood recovery and a tourism downturn - while sea change and first-home buyer belts in New South Wales are also at higher levels than the national average. Queensland has a 30-day delinquency rate of 1.41 per cent, although its performance has improved slightly - it was down from 1.86 per cent at the end of March. Most of Australia's 10 worst-performing regions were in the Sunshine State. On the other hand, Victorian homeowners are still the best payers in the nation. Five of the 10 best-performing regions were in Melbourne, the same number as March 2012. Tourism centres topped the mortgage blacklist, led by the Gold Coast east. The area replaced Fairfield-Liverpool (NSW) as the worst-performing region in Australia, with a 30-plus day delinquency rate of 2.44 per cent and 16 out of 1,000 borrowers in arrears. The level of 90-plus day arrears is 1.14 per cent, above the Australia-wide average of 0.50 per cent. Other mortgage blackspots which are popular tourist destinations include Nelson Bay (NSW), Victor Harbour (SA), Surfers Paradise, Mudgeeraba and Broadbeach Waters (all Gold Coast, QLD), and Tewantin and Pacific Paradise (both Sunshine Coast, QLD). Nationally, despite softening in values for luxury properties in the past couple of years, affluent suburbs reported the lowest mortgage delinquency rates. Lower northern Sydney, inner Brisbane, northern middle Melbourne and central metropolitan Perth were the top-performing regions in their states by both mortgage value and number of mortgages in arrears. The report revealed Nelson Bay in NSW had been the worst-performing postcode in terms of value of mortgages in arrears in Australia since the report was first collated in 2007. "Stagnation in the local housing market has increased the time required for foreclosed properties to sell, leading to an accumulation of arrears in the 90 plus day bucket," it said. Montrose in Tasmania had the highest number of properties in mortgage delinquency with 3.2 per cent more than 30 days overdue. Fitch Ratings analyst James Zanesi said coastal regions which relied on tourism were less affected by monetary policy and more by the high Australian dollar, housing prices, occupancy rates and rental yields. This is evidenced by popular tourist destinations being among the worst-peforming suburbs. Overall, coastal regions improved but not by as much as they would have liked. Mr Zanesi believed nationally recent drops in interest rates would improve mortgage delinquency levels during the first quarter of this year. He said reductions in interest rates from late last year had already helped improve mortgage delinquency rates in some parts, particularly suburbs where socio-economic factors such as high unemployment and low income households were particularly sensitive to changes in interest rates. Ipswich had the largest drop in 30-day delinquency rates among all Australian regions. Worst-performing postcodes State suburb 30+ days arrears TAS Montrose 3.2 per cent NSW Wilton 2.9 per cent QLD Surfers Paradise 3.1 per cent NSW Nelson Bay 2.8 per cent QLD Pacific Paradise 2.3 per cent QLD Waterford 2.3 per cent NSW Riverstone 2.2 per cent QLD Crestmead/Marsden 2.1 per cent QLD Helensvale 2.1 per cent NSW Rooty Hill 2.0 per cent NSW Green Valley 2.0 per cent NSW Eagle Vale 2.0 per cent QLD Tewantin, Noosa 1.9 per cent SA Victor Harbour 1.9 per cent QLD Broadbeach Waters 1.9 per cent VIC Dallas 1.9 per cent NSW Macquarie Fields 1.9 per cent NSW Woy Woy 1.9 per cent NSW Cessnock 1.8 per cent WA Armadale 1.8 per cent Source: Fitch and ABS