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1380.0.55.012 - Perspectives on Regional Australia, Housing Arrangements - Homes Owned with a Mortgage in Local Government Areas, 2011  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 19/11/2013  First Issue
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MEDIA RELEASE
19 November 2013
Embargo: 11.30 am (Canberra time)
197/2013
Mortgage repayments on the rise

Between 2006 and 2011, median monthly mortgage repayments in Australia climbed 38.5 per cent, from $1,300 to $1,800 according to data released today by the Australian Bureau of Statistics (ABS).

ABS Director of Rural and Regional Statistics Lisa Conolly said "Between 2006 and 2011 mortgage costs increased more than wages; the median weekly household income increased by 20.2 per cent, compared to an increase of 38.5 per cent in mortgage repayments".

The most expensive mortgage repayment of all Local Government Areas (LGA) in Australia in 2011 was Woollahra, in Sydney's eastern suburbs, with a median monthly mortgage repayment of $3,250, compared to the rest of New South Wales at $1,933.

The fastest increase in a median monthly mortgage repayment was recorded in Ashburton in Western Australia which increased by 278.6 per cent compared to 2006.

Analysing the growth in median mortgage repayments in regions is complex. There are a range of factors that influence how mortgage costs in regions change, including local economic circumstances, regional housing supply and demand, the age of the mortgages and stage of life of the local population.

"Regions, such as Ashburton and Port Hedland in Western Australia, have experienced high population growth and turnover, meaning that there would be increased demand for housing in these regions, and possibly new home owners with new mortgages," said Ms Conolly.

Housing costs are the largest regular expense for many Australians, and this article looks at how mortgage repayments vary in regions across Australia, and how these costs changed between 2006 and 2011.

The fastest growing mortgage costs were seen in LGAs outside the capital cities.


FASTEST GROWING MORTGAGE INCREASES WITHIN EACH STATE/TERRITORY(a)

Local Government Area
Median Mortgage Repayment
Change

2006
($/month)
2011
($/month)
(%)

Western Australia
Ashburton
252
954
278.6
Port Hedland
1 083
2 600
140.1
Derby - West Kimberley
900
1 842
104.7
Northern Territory
Victoria-Daly
370
834
125.4
Queensland
Blackall Tambo
499
953
91.0
Mount Isa
1 083
2 000
84.7
Winton
500
921
84.2
South Australia
Roxby Downs
1 300
2 323
78.7
Whyalla
737
1 300
76.4
Tasmania
George Town
700
1 200
71.4
Southern Midlands
693
1 183
70.7
New South Wales
Hay
650
1 083
66.6
Gunnedah
867
1 300
49.9
Victoria
East Gippsland
867
1 296
49.5
Surf Coast
1 218
1 800
47.8

(a) There are no LGAs in the Australian Capital Territory

Further information can be found in Perspectives on Regional Australia: Housing Arrangements - Homes Owned with a mortgage in Local Government Areas, 2011 (cat. no. 1380.0.55.012), available for free download from the ABS website (www.abs.gov.au).

Media Note:
  • Unless otherwise indicated, regions in this media release refer to Local Government Areas.
  • The Census provides a snapshot of housing tenure and housing costs in Australia on Census Night.
  • The median is the value that divides a set of data exactly in half. It is the middle value when the values in a set of data are arranged in order.
  • When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.


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