SENATOR DEAN SMITH
SHADOW ASSISTANT MINISTER FOR COMPETITION, CHARITIES AND TREASURY
SENATOR FOR WESTERN AUSTRALIA
MEDIA RELEASE
18 February 2025
MORTGAGE REPAYMENT SURVEY PINPOINTS THE HARDEST HIT LOCATIONS ACROSS AUSTRALIA
A new nationwide analysis reveals the Australian suburbs worst impacted by rising mortgage repayments under the Albanese Government – and confirms most are in Labor-held seats.
Undertaken by the Federal Parliamentary Library at the request of Senator Dean Smith, the survey covers the 50 suburbs in each capital city that experienced the most drastic repayment increases between March 2022 and September 2024.
Perth topped the list, with its 50 worst affected suburbs recording an average 154.3 percent rise over the period.
It was followed by Adelaide at 140.6 percent, Brisbane at 133.9 percent, Sydney at 95.2 and Melbourne at 68.1 percent.
Salisbury in Adelaide recorded the highest increase anywhere in Australia at 211.7 percent, with repayments there soaring from $679 to $2,117.
In Perth’s Bayswater, households saw repayments leap from $762 to $2,355 per month – an extra $1,593.
Armadale was second worst affected, jumping from $1,024 to $2,972 per month.
Repayments in Brisbane’s Eagleby increased 177.5 percent, equal to $1,760 more every month, while Woodridge was just behind at 172.5, or $1,407.
In Sydney, Little Bay lead the way with a 153.8 percent rise, adding $4,586 to monthly bills, followed by Wilton at 146.9 percent and Punchbowl at 132.8 percent.
Maidstone in Melbourne saw a 100.72 percent jump, translating to an extra $1,746 per month, while repayments in Box Hill increased $1,625 after a 99.1 percent jump.
These findings highlight the direct consequences of the Albanese Government’s economic mismanagement and skewed priorities on Australian mortgage holders.
Notably, worst impacted are suburbs in electorates represented by Labor in the Federal Parliament – including Spence, Perth, Burt, Rankin, Kingsford Smith, Watson, Fraser and Chisholm.
Instead for being rewarded for their vote, these constituents are being pushed to the brink by a Government they elected to be represent their interests, and which promised it would make life easier.
Comments attributable to Senator Dean Smith:
“This data leaves no doubt of how tough Australian households, regardless of what city they are in, are doing it under Anthony Albanese and Labor.”
“A dozen interest rate rises, fuelled by Labor’s spending and economic mismanagement, are pushing Australian mortgage-holders to the edge – and, while rate cuts will be very welcome, it will take far more than one or two to repair the damage Labor has inflicted.
“What is most striking about this data is that it confirms the hardest-hit suburbs are overwhelmingly in Labor-held electorates, whose voters will soon have an opportunity to hold the Albanese Government to account.”
“The Coalition understands Australians should not be forced to choose between making mortgage repayments and putting food on the table, which is why we have a plan to get our economy back on track and address the housing crisis under a Dutton-led Government.”
ENDS