Victoria
Housing loan quartiles
In Victoria, the 'medium highest group' was the largest quartile, comprising of 26% of households with mortgages in 2021.
Mortgage repayments in Victoria are directly related to house prices, length of occupancy and the level of equity of home owners. When viewed with Household Income data it may also indicate the level of housing stress in the community.
The quartile method is the most objective method of comparing change in the mortgage payment profile of a community over time.
A detailed explanation of how Housing Loan Repayment quartiles are calculated and interpreted is available in specific data notes.
Please note, interest rates at the 2021 Census were at a record low in Australia. The first interest rate rises by the Reserve Bank began an upward cycle from May 2022. Please use mortgage payment data with caution as data from the 2021 Census pre-dates all official rate rises in the current cycle.
Derived from the Census questions:
'How much does your household pay for this dwelling?' and 'Is this dwelling (owned outright, owned with a mortgage etc.)'
Households with a mortgage
| Housing loan quartiles | ||||||||
|---|---|---|---|---|---|---|---|---|
| Victoria - Households (Enumerated) | 2021 | 2016 | Change | |||||
| Loan repayment quartile group | Number | % | Regional VIC % | Number | % | Regional VIC % | 2016 to 2021 | |
| Lowest group | 203,619 | 25.1 | 39.4 | 192,463 | 26.9 | 37.1 | +11,156 | 34001 |
| Medium lowest | 201,606 | 24.9 | 31.1 | 192,686 | 26.9 | 31.2 | +8,921 | 34002 |
| Medium highest | 211,526 | 26.1 | 17.4 | 175,819 | 24.6 | 19.9 | +35,707 | 34003 |
| Highest group | 194,169 | 23.9 | 12.0 | 154,470 | 21.6 | 11.9 | +39,699 | 34004 |
| Total households with stated mortgage repayments | 810,921 | 100.0 | 100.0 | 715,439 | 100.0 | 100.0 | +95,482 | |
Source: Australian Bureau of Statistics, Census of Population and Housing (opens a new window) 2016 and 2021. Compiled and presented by .id (opens a new window)(informed decisions).
(Enumerated data)
| Housing loan - Quartile group dollar ranges | ||||||
|---|---|---|---|---|---|---|
| Calculated from loan repayment data for [theQBMQuartile] | Monthly housing loan repayments by Census year | |||||
| Housing loan repayment ranges | 2021 | 2016 | 2011 | 2006 | 2001 | |
| Lowest group | $0 to $1,254 | $0 to $1,184 | $0 to $1,159 | $0 to $850 | $0 to $613 | |
| Medium lowest | $1,255 to $1,873 | $1,185 to $1,784 | $1,160 to $1,804 | $851 to $1,305 | $614 to $891 | |
| Medium highest | $1,874 to $2,675 | $1,785 to $2,518 | $1,805 to $2,596 | $1,306 to $1,931 | $892 to $1,261 | |
| Highest group | $2,676 and over | $2,519 and over | $2,597 and over | $1,932 and over | $1,262 and over | |
Compiled and presented in profile.id by .id (informed decisions).
Compiled and presented in profile.id by .id (informed decisions).
Dominant groups
Housing loan repayment quartiles allow us to compare relative repayment liabilities across time. Analysis of the distribution of households by housing loan repayment quartiles in Victoria compared to Regional VIC shows that there was a larger proportion of households in the highest repayment quartile, and a smaller proportion in the lowest repayment quartile.
Emerging groups
The total number of households with a mortgage in Victoria decreased by 715,439 between 2016 and 2021. The most significant change in Victoria during this period was in the highest quartile which showed an increase of 39,699 households.