In line with the Australian Bureau of Statistics (ABS), the average mortgage size in Australia is $384,700 (November 2018). Based on your location, this could appear to be a whole lot – or extremely that is little that’s as the state or money town your home is in has a significant influence on how big your home loan.
Typical home loan size in Australia by state
Regrettably for Sydney house 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 note that Sydneysiders indeed spend a premium because of their predictable climate habits and sunny beaches. (more…)