SA mortgage repayments under national average
Monday, 12 November 2012
New 2011 Census figures from the Australian Bureau of Statistics (ABS) show South Aussies’ mortgage repayments are 20% below the national average of $1,800 a month.
Worth noting is that the state’s weekly rent is significantly lower than the national average of $285 per week.
The most frequent rent paid per week was in the $275-$349 bracket with $225-$274 a close second.
The figures show that median rent and mortgage repayments have both increased at a faster rate than median personal income across the state. Another observation is that a larger proportion of the population are renting, up 1.7%.
The number of South Australians who own their home outright has dropped by 1.9% since 2006 to 32.8% but is still in line with the national average of 32.1%.
Looking at the number of bedrooms per dwelling, stand alone homes were more likely to have three bedrooms. The most common number of bedrooms for units and apartments was two.
Also worth noting is that South Australians are slightly older compared to the national median age of 37.
Since 2006, the state’s population has grown by 5.4% to 1,596,570.
These figures are sourced from the ABS website.
With housing costs outpacing income growth, affordability is key. HomeStart offers a range of home loan repayment options to help tailor a home loan to suit your needs.
Find out more about HomeStart’s home loan options.
Links to websites operated by third parties are merely provided for your convenience and do not imply an endorsement or approval of the site, information or service. HomeStart shall not be held responsible or liable for any third party content.
Worth noting is that the state’s weekly rent is significantly lower than the national average of $285 per week.
The most frequent rent paid per week was in the $275-$349 bracket with $225-$274 a close second.
| South Australia | 2011 | 2006 |
|---|---|---|
| Median age of persons | 39 | 39 |
| Median total personal income ($/weekly) | 534 | 433 |
| Median total family income ($/weekly) | 1,330 | 1,103 |
| Median total household income ($/weekly) | 1,044 | 887 |
| Median mortgage repayment ($/monthly) | 1,500 | 1,018 |
| Median rent ($/weekly) | 220 | 150 |
| Average number of persons per bedroom | 1.1 | 1.1 |
| Average household size | 2.4 | 2.4 |
The figures show that median rent and mortgage repayments have both increased at a faster rate than median personal income across the state. Another observation is that a larger proportion of the population are renting, up 1.7%.
The number of South Australians who own their home outright has dropped by 1.9% since 2006 to 32.8% but is still in line with the national average of 32.1%.
Looking at the number of bedrooms per dwelling, stand alone homes were more likely to have three bedrooms. The most common number of bedrooms for units and apartments was two.
Also worth noting is that South Australians are slightly older compared to the national median age of 37.
Since 2006, the state’s population has grown by 5.4% to 1,596,570.
These figures are sourced from the ABS website.
With housing costs outpacing income growth, affordability is key. HomeStart offers a range of home loan repayment options to help tailor a home loan to suit your needs.
Find out more about HomeStart’s home loan options.
Links to websites operated by third parties are merely provided for your convenience and do not imply an endorsement or approval of the site, information or service. HomeStart shall not be held responsible or liable for any third party content.
