Ever thought which Australian State has the biggest home loan figures? Let’s compare Home Loans Melbourne, Victoria to other Australian States.
Thirty years ago, the average Australian home loan was around $40,000. Ten years after that, the average Australian home loan figure had increased to around $100,000. Below, you will see an outline of the breakdown of the figures for each state from 1975 to 2015. It’s food for thought!
Take a look and compare Home Loans Melbourne, Victoria to the other Australian States.
Years |
Western Australia |
Northern Territory |
South Australia |
Queensland |
New South Wales |
Victoria |
Tasmania |
1975 |
$17,800.00 |
$21, 600 |
$18, 300 |
$16, 700 |
$18, 600 |
$16, 200 |
$15, 900 |
1985 |
$34, 800 |
$50, 300 |
$42, 100 |
$37, 500 |
$46, 600 |
$40, 900 |
$30, 100 |
1995 |
$90, 800 |
$99, 100 |
$75, 800 |
$93, 600 |
$114, 500 |
$85, 700 |
$70, 200 |
2005 |
$187, 500 |
$192, 900 |
$165, 400 |
$213, 500 |
$262, 300 |
$209, 000 |
$153, 300 |
2015 |
$343, 000 |
$340, 900 |
$280, 900 |
$320, 700 |
$454, 200 |
$387, 600 |
$236, 400 |
Comparing Home Loans Melbourne, Victoria to other states, the state of Victoria currently has the second highest home loans figure at $387,600. According to The Sydney Morning Herald, “People in Victoria taking out a loan for a home to live in are, on average, borrowing $61,700 more than a year ago, thanks to surging house prices and record low interest rates.”
If you have any questions or would like to discuss further, please do not hesitate to contact Lending Specialist Melbourne on (03)8805-1800 or email barry@lendingspecialists.com.au
Sources:
http://bit.ly/1M6xqRL
http://bit.ly/1HXSkrw
