Housing loan repayments
In Black Rock, 42.7% of households with a mortgage were making high loan repayments of $2,600 or more per month in 2011.
Mortgage repayments are directly related to house prices in Black Rock, 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 households in the community are under. In mortgage belt areas it is expected that households will be paying a higher proportion of their income on their housing compared to well-established areas. First home buyer areas are also likely to have larger mortgages than upgrader areas where households move in with equity from elsewhere.
Mortgage payment levels are not directly comparable over time because of inflation. For comparison of mortgage payments over time, go to Housing Loan Quartiles.
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
|Monthly housing loan repayments|
|Black Rock - Households (Enumerated)||2011|
|Monthly repayment amount||Number||%||City of Bayside %|
|$5000 and over||72||10.0||12.9||23019|
|Total households with a mortgage||722||100.0||100.0|
Source: Australian Bureau of Statistics, Census of Population and Housing (opens a new window) 2011. Compiled and presented in profile.id by .id (opens a new window), the population experts.
Compiled and presented in profile.id by .id, the population experts.
Analysis of the monthly housing loan repayments of households in Black Rock compared to City of Bayside shows that there was a smaller proportion of households paying high mortgage repayments ($2,600 per month or more), and a larger proportion of households with low mortgage repayments (less than $1000 per month).
Overall, 42.7% of households were paying high mortgage repayments, and 17.0% were paying low repayments, compared with 44.0% and 13.5% respectively in City of Bayside.
The major differences between the household loan repayments of Black Rock and City of Bayside were:
- A larger percentage of $600-$799 (5.0% compared to 2.3%)
- A larger percentage of $1400-$1599 (6.2% compared to 4.2%)
- A smaller percentage of $2000-$2199 (5.9% compared to 8.8%)
- A smaller percentage of $5000 and over (10.0% compared to 12.9%)