THE jobless rate in parts of Sydney has almost doubled in a year and in some areas up to one in 16 homeowners are defaulting on their mortgages.
Of the top 20 postcodes for mortgages that are more than a month in arrears, 19 are in NSW, data obtained by The Daily Telegraph reveals.
The revelation has prompted an unprecedented study of 200 defaulters by the University of Western Sydney – funded by the RBA to understand how they are slipping through the cracks.
The move comes as the Federal Government announced a crackdown on unscrupulous lenders.