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South Gippsland ShireCommunity profile

South Gippsland Shire

Housing loan repayments

In South Gippsland Shire, 11.3% of households with a mortgage were making high loan repayments of $2,600 or more per month in 2021.

Mortgage repayments are directly related to house prices in South Gippsland Shire, 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.

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.

Further reading: How can Councils influence affordable housing.

Q:

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.)'

Monthly housing loan repayments
South Gippsland Shire - Households (Enumerated)2021
Monthly repayment amountNumber%Fish Creek - Sandy Point - Wilsons Promontory %
$299 or less2285.610.0
$300 - $5992666.67.1
$600 - $99954813.511.2
$1,000 - $1,1993789.33.5
$1,200 - $1,39946111.413.5
$1,400 - $1,5993959.710.0
$1,600-$1,7993679.08.8
$1,800 - $1,9992215.45.9
$2,000 - $2,1993027.45.9
$2,200 - $2,399942.3--
$2,400-$2,599842.12.4
$2,600-$2,9991573.94.7
$3,000-$3,9991704.26.5
$4,000-$4,999621.52.4
$5000 and over691.7--
Not stated2576.38.2
Total4,059100.0100.0
Source: Australian Bureau of Statistics, Census of Population and Housing 2021. Compiled and presented in profile.id by .id (informed decisions).
Please refer to specific data notes for more information

Dominant groups

Analysis of the monthly housing loan repayments of households in South Gippsland Shire compared to Fish Creek - Sandy Point - Wilsons Promontory 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 $1,200 per month).

Overall, 11.3% of households were paying high mortgage repayments, and 35.0% were paying low repayments, compared with 13.5% and 31.8% respectively in Fish Creek - Sandy Point - Wilsons Promontory.

The major differences between the household loan repayments of South Gippsland Shire and Fish Creek - Sandy Point - Wilsons Promontory were:

  • A larger percentage of $1,000 - $1,199 (9.3% compared to 3.5%)
  • A larger percentage of $600 - $999 (13.5% compared to 11.2%)
  • A larger percentage of $2,200 - $2,399 (2.3% compared to 0.0%)
  • A smaller percentage of $299 or less (5.6% compared to 10.0%)

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