The latest Fitch Ratings report on residential mortgages shows delinquencies decreased by nearly a quarter in September 2011, down to 1.42 per cent of loans from a high in March of 1.77 per cent.
All the states and territories had experienced an improvement in delinquency rates as a result of stable or falling interest rates, the report said.
However, Queensland is Australia's worst-performing state for mortgage delinquency, with homeowners in Noosa, Airlie Beach and the Gold Coast among the most affected by the economy and natural disasters.
According to Fitch Ratings, Logan City, the Gold Coast and Ipswich have also shown significant economic deterioration since September 2010, but its study of suburbs where the mortgage delinquency was highest pinpointed seven Queensland locations among the worst 20 throughout Australia.
"Those regions which have shown strong sensitivity to mortgage rates due to socio-economic factors and which were affected most in March 2011 by Christmas spending and increased interest rates have benefited most from stable cash rates," said James Zanesi Fitch’s finance director.
Fairfield-Liverpool in Sydney’s west continued to be the worst performing region in Australia but the number of borrowers making repayments 30 days or more late fell.
Melbourne’s northern belt of suburbs were the most reliable mortgage holders with only 0.54 per cent of borrowers in arrears of 30 days or more.
‘‘Sydney's south-western suburbs and the Central Coast; the Gold Coast in Queensland and the south west region of Western Australia continue to experience above-average arrears,’’ Mr Zanesi said.
Nelson Bay north of Newcastle was the worst performing postcode by loan amount, recording a delinquency ratio of 7.8 per cent.
Other poor performers included Budgewoi in NSW, Casuarina in WA and Helensvale in Queensland.
‘‘Fitch has also noticed that an increasing number of the 20 worst performing suburbs in Australia are located in 'tourism destinations' such as Arlie Beach, Noosa Heads, Surfers Paradise and Nelson Bay,’’ the report said.
WORST POSTCODES
1 2315 NSW Nelson Bay
2 2262 NSW Budgewoi
3 4212 QLD Helensvale
4 2576 NSW Kangaloon
5 2171 NSW Hoxton Park
6 4217 QLD Surfers Paradise
7 4130 QLD Carbrook
8 4114 QLD Kingston
9 2106 NSW Newport
10 2761 NSW Plumpton
11 4567 QLD Noosa Heads
12 4802 QLD Airlie Beach
13 2753 NSW Richmond
14 2324 NSW Karuah
15 2325 NSW Cessnock
16 6167 WA Casuarina
17 2177 NSW Bonnyrigg
18 2428 NSW Forster
19 2263 NSW Gorokan
20 2430 NSW Taree