A surge in quick home resales has been attributed to the growing mortgage stress faced by homeowners, according to analysts and real estate agents.

Brisbane real estate agent, Jett Jones, has noticed a significant increase in properties returning to the market within a short period after being sold.

The data from CoreLogic, exclusively prepared for ABC News, indicates that the proportion of homes resold within two years of their previous sale is at a nine-year high. In April, 8.3 percent of properties sold were owned for less than two years, indicating a steep increase since mid-2021.

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Quick turnover

Analysts point out that the current scenario is different from previous instances of quick property turnover, which were typically observed during property booms when investors sought fast profits. This time, a substantial number of properties resold within a short duration are being sold at a loss. This suggests a rise in forced sales, as homeowners who purchased during the low-interest rate pandemic period struggle to cope with surging mortgage repayments.

Younger buyers, including first-time buyers who may have overextended their budgets, and investors looking to retire or reduce costs, are among those impacted. Hobart and Brisbane are the leading cities where properties are resold within two and three years, highlighting the severity of the issue.

Financial counsellors have reported a 30 percent increase in calls for help related to mortgage stress, with the number one reason for seeking assistance being the inability to afford mortgage repayments. The situation has become more critical for those with pandemic-era, cheap, fixed-rate mortgages expiring.

Experts urge homeowners facing financial trouble to seek advice early, engaging with their banks and relevant services to explore their options and remain in control of the sale process. While some are still making profits on property sales, a significant number of pressured sellers may be on the rise as interest rates and inflation continue to impact mortgage affordability.