A comprehensive collection of Australian housing finance and mortgage statistics drawn from the Reserve Bank of Australia (RBA), Australian Bureau of Statistics (ABS), Australian Prudential Regulation Authority (APRA), and Roy Morgan Research. Updated regularly.
The Reserve Bank of Australia's cash rate is the single most important driver of Australian mortgage rates. Variable home loan rates typically move in line with cash rate changes, usually within days of an RBA decision.
| Year | Cash Rate | Context |
|---|---|---|
| 1990 | 17.5% | Recession we had to have; record high mortgage rates |
| 1996 | 7.5% | Mid-cycle recovery; rates easing from recession highs |
| 2000 | 6.25% | Pre-GST; RBA began tightening ahead of housing boom |
| 2008 pre-GFC | 7.25% | Inflation concern; last hike before GFC crisis |
| 2009 post-GFC | 3.0% | Emergency cuts in response to global financial crisis |
| 2016 | 1.5% | Record low at the time; maintained for 3+ years |
| 2020 COVID | 0.10% | Emergency pandemic low; all-time record |
| 2022 hike cycle start | 0.10% | First hike of the 2022–23 cycle in May 2022 |
| 2023 peak | 4.35% | 13 hikes in 18 months; peak of post-COVID tightening |
| 2024 | 4.35% | On hold throughout 2024 while inflation eased |
| 2025 | 3.60% | First cut in February 2025; easing cycle through mid-2025; held at 3.60% from August 2025 |
| 2026 hiking cycle | 3.85% → 4.10% → 4.35% | Three consecutive +25bp hikes (4 Feb, 18 Mar, 6 May 2026) as inflation re-accelerated to 4.6% |
| Current (2026-05-05) | 4.35% | In effect from 6 May 2026; next meeting 16 June 2026 |
Source: Reserve Bank of Australia (rba.gov.au). Cash rate history.
Roy Morgan Research defines mortgage stress as borrowers who are "at risk" based on their income, repayments, and spending. This is a more nuanced measure than the simple 30%-of-income threshold.
of Australian mortgage holders are at risk of mortgage stress (Roy Morgan, 2026 estimate)
mortgage holders considered at risk — the highest level in over a decade
of gross income is the standard threshold for "mortgage stress" under the most common definition
Mortgage stress is not evenly distributed. Victoria has the highest stress rate at 29.1%, followed by Queensland (28.3%) and South Australia (27.8%). The ACT has the lowest stress rate at 21.4%, reflecting higher household incomes in Canberra.
The surge in stress reflects the impact of 13 interest rate hikes between May 2022 and November 2023, adding approximately $1,200–$1,800 per month to repayments on a typical $600,000 variable mortgage.
Source: Roy Morgan Research — Mortgage Stress report. Data as at early 2026.
| Metric | Value | Source |
|---|---|---|
| Average new owner-occupier loan (national) | ~$620,000 | ABS Housing Finance (2025) |
| Average new investor loan (national) | ~$650,000 | ABS Housing Finance (2025) |
| Total outstanding housing credit | ~$2.1 trillion | RBA Financial Aggregates (2025) |
| Owner-occupier share of housing credit | ~65% | APRA Quarterly ADI Statistics |
| Investor share of housing credit | ~35% | APRA Quarterly ADI Statistics |
| Interest-only share of new lending | ~17% | APRA Quarterly ADI Statistics (2025) |
| Fixed-rate share of outstanding loans | ~10% | RBA Financial Stability Review (2025) |
| Variable-rate share of outstanding loans | ~90% | RBA Financial Stability Review (2025) |
| Household debt-to-income ratio | ~190% | RBA (one of the highest in the OECD) |
| Mortgage delinquency rate (90+ days) | ~1.5% | APRA / S&P Global Ratings (2025) |
Median house prices vary enormously across Australian capital cities. Sydney remains Australia's most expensive market, with a median house price roughly double that of Darwin.
| State | Capital City | Median House Price | Mortgage Stress Rate |
|---|---|---|---|
| New South Wales | Sydney | $1.2M | 25.8% |
| Victoria | Melbourne | $890,000 | 29.1% |
| Queensland | Brisbane | $810,000 | 28.3% |
| Western Australia | Perth | $680,000 | 25.5% |
| South Australia | Adelaide | $700,000 | 27.8% |
| Tasmania | Hobart | $590,000 | 29.5% |
| Australian Capital Territory | Canberra | $870,000 | 21.4% |
| Northern Territory | Darwin | $510,000 | 26.2% |
Source: CoreLogic / Domain median house price estimates, circa 2025–26. Stress rates: Roy Morgan Research. Indicative figures — actual medians change monthly.
Australian variable mortgage rates are typically priced at approximately 2–3 percentage points above the RBA cash rate, reflecting lender funding costs, margins, and risk premium. Over the 2022–2023 rate hiking cycle, variable rates rose from approximately 2.5% to over 7% — a jump that materially increased repayments for most variable borrowers.
| Rate Type | Low (approx) | High (approx) | Notes |
|---|---|---|---|
| Standard variable (owner-occupier P&I) | 6.2% | 7.2% | Competitive online lenders at low end; big four at high end |
| Fixed rate (1–3 year) | 5.5% | 5.9% | Fixed rates sit below variable, reflecting expectations of eventual easing once inflation returns to target |
| Investor variable (P&I) | 6.2% | 7.3% | Typically 0.2–0.3% above owner-occupier rates |
| Interest-only (investor) | 6.5% | 7.6% | IO premium typically 0.3–0.5% above P&I |
Source: RBA Indicator Lending Rates; Canstar / RateCity market data. Rates as at early 2026.
Australia's household debt-to-income ratio of approximately 190% is among the highest in the OECD. This reflects decades of rising property prices outpacing income growth, with low interest rates accelerating borrowing until 2022. The combination of high debt levels and rapid rate rises in 2022–23 created the mortgage stress surge now visible in Roy Morgan's data.
Headline inflation re-accelerated to 4.6% in the March quarter, well above the RBA's 2–3% target band. The RBA responded with three consecutive +25bp hikes (February, March and May 2026), lifting the cash rate from 3.60% to 4.35%. The Board has signalled inflation is likely to remain above target for some time, leaving the door open to further increases. Mortgage stress is likely to rise as the most recent hikes flow through to variable rates over coming weeks.
Data currency: Financial statistics change frequently. For the most current data, visit rba.gov.au, abs.gov.au, and apra.gov.au.
Statistics are averages. Use our calculators to see what the numbers mean for your specific loan.
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