In Bayside Council area, the 'highest group' was the largest quartile, comprising of 32% of households with mortgages in 2021.
Mortgage repayments in Bayside Council area are directly related to house prices, 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 in the community.
The quartile method is the most objective method of comparing change in the mortgage payment profile of a community over time.
A detailed explanation of how Housing Loan Repayment quartiles are calculated and interpreted is available in specific data notes.
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.
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.)'
Dominant groups
Housing loan repayment quartiles allow us to compare relative repayment liabilities across time. Analysis of the distribution of households by housing loan repayment quartiles in Bayside Council area compared to Sutherland Shire shows that there was a smaller proportion of households in the highest repayment quartile, and a larger proportion in the lowest repayment quartile.
Emerging groups
The total number of households with a mortgage in Bayside Council area decreased by 14,945 between 2016 and 2021. The most significant change in Bayside Council area during this period was in the medium highest quartile which showed an increase of 849 households.