Housing loan repayments
27.5% of households with a mortgage were making high loan repayments of $2,600 or more per month in Llandilo.
Mortgage repayments are directly related to house prices in Llandilo, 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|
|Monthly repayment amount||Number||%||Penrith City|
|$5000 and over||7||4.9||1.6||23019|
|Total households with a mortgage||142||100.0||100.0|
Analysis of the monthly housing loan repayments of households in Llandilo compared to Penrith City shows that there was a larger proportion of households paying high mortgage repayments ($2,600 per month or more), and a smaller proportion of households with low mortgage repayments (less than $1000 per month).
Overall, 27.5% of households were paying high mortgage repayments, and 9.9% were paying low repayments, compared with 22.1% and 12.6% respectively in Penrith City.
The major differences between the household loan repayments of Llandilo and Penrith City were:
- A larger percentage of $4000-$4999 (7.0% compared to 2.2%)
- A larger percentage of $5000 and over (4.9% compared to 1.6%)
- A larger percentage of $3000-$3999 (11.3% compared to 8.4%)
- A larger percentage of Nil repayments (4.2% compared to 1.5%)