Mortgage costs up, home values up

More Australian households have mortgages than have paid off their home according to data released yesterday by the Australian Bureau of Statistics. Households with mortgages were up to 35 per cent from 30 per cent nine years ago, while the number households that have paid off their home was down to 35 per cent from 42 per cent. The average mortgage cost 19 per cent more than it did in 1995 and the average value of homes was up 70 per in the same period.

Advertisement