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How under the pump are Australian home owners? With the rising costs of land and real estate, and the universal increase in the cost of living, mortgage repayments are a real concern, with policy makers continually looking for ways to address the upward trend. This FACT uses data from the 2016 ABS Census to show the median monthly mortgage repayments of home owners living in each Australian capital. This in turn highlights the disparity in financial burden experienced by home buyers throughout the country. The highest median monthly repayment is found in Darwin, with homeowners paying A$2200 per month. The lowest monthly repayments are in Hobart, at A$1,402 per month.
When coupled with other statistics, such as the average gross weekly income, or the percentage of households suffering mortgage stress, this topic becomes an interesting point of discussion.