Analysis of the monthly housing loan repayments of households in Cook (S) compared to Far North Queensland 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, 7.7% of households were paying high mortgage repayments, and 40.8% were paying low repayments, compared with 11.6% and 29.2% respectively in Far North Queensland.
The major differences between the household loan repayments of Cook (S) and Far North Queensland were:
- A larger percentage of $299 or less (9.2% compared to 4.8%)
- A larger percentage of $600 - $999 (15.6% compared to 11.7%)
- A smaller percentage of $1,600-$1,799 (6.7% compared to 10.7%)
- A smaller percentage of $1,400 - $1,599 (7.4% compared to 10.5%)