Bay Street Major Activity Centre
Housing loan repayments
This topic has been updated with 2016 Census data for all areas. What's this?
In Bay Street Major Activity Centre, 49.5% of households with a mortgage were making high loan repayments of $2,600 or more per month in 2016.
Mortgage repayments are directly related to house prices in Bay Street Major Activity Centre, 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|
|Bay Street Major Activity Centre - Households (Enumerated)||2016|
|Monthly repayment amount||Number||%||City of Bayside %|
|$299 or less||19||8.9||6.3||23020|
|$300 - $599||1||0.9||3.1||23021|
|$600 - $999||10||4.5||4.7||23022|
|$1,000 - $1,199||12||5.4||4.2||23023|
|$1,200 - $1,399||6||3.1||3.8||23024|
|$1,400 - $1,599||7||3.5||3.9||23025|
|$1,600 - $1,799||10||4.5||3.8||23026|
|$1,800 - $1,999||0||--||2.9||23027|
|$2,000 - $2,199||18||8.2||9.1||23028|
|$2,200 - $2,399||4||2.0||2.9||23029|
|$2,400 - $2,599||5||2.2||4.4||23030|
|$2,600 - $2,999||10||4.8||5.9||23031|
|$3,000 - $3,999||34||15.5||15.5||23032|
|$4,000 - $4,999||25||11.4||9.9||23033|
|$5,000 and over||39||17.8||13.8||23034|
Source: Australian Bureau of Statistics, Census of Population and Housing (opens a new window) 2016. 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 Bay Street Major Activity Centre compared to City of Bayside shows that there was a larger proportion of households paying high mortgage repayments ($2,600 per month or more), as well as a larger proportion of households with low mortgage repayments (less than $1,200 per month).
Overall, 49.5% of households were paying high mortgage repayments, and 19.7% were paying low repayments, compared with 45.2% and 18.3% respectively in City of Bayside.
The major differences between the household loan repayments of Bay Street Major Activity Centre and City of Bayside were:
- A larger percentage of $5,000 and over (17.8% compared to 13.8%)
- A larger percentage of $299 or less (8.9% compared to 6.3%)
- A smaller percentage of $1,800 - $1,999 (0.0% compared to 2.9%)
- A smaller percentage of $300 - $599 (0.9% compared to 3.1%)