What’s the average home loan size in Australia?

What’s the average home loan size in Australia?

In accordance with the Australian Bureau of Statistics (ABS), the normal home loan size in Australia is $384,700 (November 2018). According to in your geographical area, this could seem like a lot – or really little – and that’s since the state or money town your home is in has an important impact on the dimensions of your home loan.

Typical mortgage size in Australia by state

Regrettably for Sydney home hunters, the mortgage that is average in NSW is $462,100. Compare that to Victoria’s mortgage that is average of $400,400 and you may observe that Sydneysiders indeed pay a premium for his or her predictable climate habits and sunny beaches. In reality, Sydney has got the biggest normal home loan size in Australia.

Just just Take a visit throughout the Bass Strait and – all jokes apart – whenever mortgage that is comparing, it is just like you come in a different country. Yes, into the land of this Tassie Devil, plus in stark contrast with their Victorian neighbors, Tasmanians have actually the cheapest average mortgage sizes in Australia. Tasmania has a typical home loan size of $275,900, nearly $200,000 below NSW’s average. More →