Morts Estate - Oaky Park - Vale Of Clwydd
Housing loan repayments
In Morts Estate - Oaky Park - Vale Of Clwydd, 3.3% 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 Morts Estate - Oaky Park - Vale Of Clwydd, 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|
|Morts Estate - Oaky Park - Vale Of Clwydd||2011|
|Monthly repayment amount||Number||%||Lithgow City %|
|$5000 and over||0||0.0||1.1||23019|
|Total households with a mortgage||184||100.0||100.0|
Analysis of the monthly housing loan repayments of households in Morts Estate - Oaky Park - Vale Of Clwydd compared to Lithgow City 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, 3.3% of households were paying high mortgage repayments, and 37.6% were paying low repayments, compared with 13.9% and 24.1% respectively in Lithgow City.
The major differences between the household loan repayments of Morts Estate - Oaky Park - Vale Of Clwydd and Lithgow City were:
- A larger percentage of $800-$999 (16.1% compared to 9.8%)
- A smaller percentage of $2600-$2999 (0.0% compared to 6.0%)
- A smaller percentage of $2000-$2199 (3.2% compared to 7.7%)
- A smaller percentage of $1800-$1999 (1.6% compared to 5.6%)