Migrants are at the forefront of Australia's mortgage stress crisis, financial experts say, with boom suburbs in Melbourne's fringe filled with owners struggling to make repayments.
Some of Melbourne's most multicultural suburbs, including Narre Warren and Craigieburn, are among those with the highest levels of mortgage stress, according to analyst Martin North.
Martin North says households in multicultural communities are facing considerable financial pressure. Seven of the top ten Australian postcodes facing mortgage stress in Mr North's most recent monthly analysis were located in Victoria.More culturally-diverse people seeking financial counselling
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