SENATOR DEAN SMITH
SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER
SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING
LIBERAL SENATOR FOR WESTERN AUSTRALIA
18 February 2026
SUBURBS IN KEY LABOR SEATS AMONG THE WORST IMPACTED BY SKYROCKETING MORTGAGE STRESS
Mortgage holders in the battleground seats of Bullwinkel, Burt, Moore and Pearce are amongst the hardest hit by interest rate hikes under the Albanese Government – and there may be more to come.
All four Western Australian seats are currently held by Labor.
New analysis of ABS Census data, commissioned by Senator Dean Smith from the Federal Parliamentary Library, has revealed dollar cost of interest rate rises under the Albanese Government.
The analysis uses the last available Census records* of the number of mortgaged homes and plots monthly repayments up to, and including, the recent rate increase – and if rates continue to rise throughout this year.
Suburbs in Burt featured some of the highest rates of mortgage holders, with Piara Waters-Forrestdale topping the list at 72.7 percent.
Carramar had the most mortgage holders in Pearce at 66 percent, in Moore it was Illuka-Burns Beach Moore at 57.7 percent and Gidgegannup led Bullwinkel with 52.4 percent.
As the data spans the period between August 2021 and January 2026 – the majority of it under the Albanese Government and its 13 rate rises – it contrasts the effect on mortgage holders of Coalition and Labor-managed economies.
In Piara-Water-Forrestdale, for example, mortgage holders experienced a $785 increase in median monthly repayments.
Between January and February 2026 alone, this jumped $78 a month – or $938 a year – as a result of the latest interest rate rise.
In a warning sign of what might be to come, the RBA has confirmed the link between government spending and inflation – and flagged further rate rises will be necessary unless Labor addresses inflationary pressures.
If interest rates hypothetically increased 25 basis points in each quarter of 2026, one of which has already occurred, monthly mortgage repayments in Piara Waters-Forrestdale would climb by $318 a month – representing a whopping $3,819 annually.
For mortgage holders in Illuka-Burns Beach that would be $5,203 more a year, in Gidgegannaup $4,331 and in Carramar $3,591.
These numbers are a clear indication of the crippling financial toll, in the form of drastically increased mortgage repayments, that the Albanese Government has delivered its own electorates.
And the fact that these projected figures are based on data from August 2021 means the number of affected mortgage holders in these Labor-held seats will generally be significantly larger – with thousands of additional residents now affected.
This is accompanied by larger loans, confirmed by recent ABS data that highlighted record loan sizes and deeper debt in WA.
The average loan increased by $55,000 in the December quarter to $688,000, reflecting the relentless surge in house prices.
In Western Australia, the value of finance for new home buyers jumped from $1.86 billion to $2.21 billion in the December quarter – a staggering increase in just three months.
WA also recorded the largest annual increase in average loan size for owner-occupiers in the nation, up 16 percent in the year to June 2025.
And mean dwelling prices in WA climbed 4.5 percent, or $40,800, in the September quarter – again among the strongest increases in the country.
Comments attributable to Senator Dean Smith:
“This analysis goes beyond the percentages to reveal the actual financial impact on mortgage holders in WA under Anthony Albanese and Jim Chalmers – and the fact they are negatively impacting their own voters.”
“Many of those bearing the worst of the brunt are living in Labor electorates, struggling to make ends meet under the Government meant to be representing their interests.”
“The Reserve Bank of Australia is acting responsibly where the Albanese Government won’t, making it clear that the latest rate rise was necessary due to Labor’s reckless spending.”
“These figures also reveal the significant, additional mortgage pain that will hit Western Australian household budgets if market predictions of another three rate increases come to pass.”
*ABS Census, August 2021
Top four suburbs by electorate, based on percentage of homes owned with a mortgage.
| Seat | Suburb | % Homes with mortgage | Median monthly repayment
(Census August 2021) |
Median monthly repayment
(January 2026) at 5.51% |
Increase from August 2021 to January 2026
(monthly) |
Median monthly repayment
(February 2026) +0.25% |
Projected median monthly repayment
(January 2027) +1.00% |
Increase from August 2021 to January 2027 – as projected
(monthly) |
| Burt | Piara Waters-Forrestdale | 72.7% | $2,028 | $2,813 | $785 | $2,891 | $3,131 | $1,103 |
| Burt | Byford | 68.4% | $1,914 | $2,655 | $741 | $2,728 | $2,955 | $1,041 |
| Burt | Harrisdale | 67.2% | $2,000 | $2,774 | $774 | $2,851 | $3,088 | $1,088 |
| Pearce | Carramar | 66% | $1,907 | $2,645 | $738 | $2,718 | $2,944 | $1,037 |
| Pearce | Alkimos-Eglinton | 64.6% | $1,950 | $2,705 | $755 | $2,790 | $3,011 | $1,061 |
| Burt | Seville Grove | 59.9% | $1,600 | $2,219 | $619 | $2,281 | $2,470 | $870 |
| Moore | Iluka-Burns Beach | 57.7% | $2,763 | $3,832 | $1,069 | $3,939 | $4,266 | $1,503 |
| Pearce | Yanchep | 56.4% | $1,842 | $2,555 | $713 | $2,626 | $2,844 | $1,002 |
| Pearce | Hocking-Pearsall | 56.2% | $1,993 | $2,764 | $771 | $2,841 | $3,077 | $1,084 |
| Bullwinkel | Gidgegannup | 52.4% | $2,300 | $3,190 | $890 | $3,279 | $3,551 | $1,251 |
| Bullwinkel | Forrestfield-Wattle Grove | 50.3% | $1,800 | $2,497 | $697 | $2,566 | $2,779 | $979 |
| Bullwinkel | Mount Nasura-Bedfordale | 49.8% | $2,000 | $2,774 | $774 | $2,851 | $3,088 | $1,088 |
| Moore | Padbury | 49.6% | $2,000 | $2,774 | $774 | $2,851 | $3,088 | $1,088 |
| Moore | Cragie-Beldon | 49.3% | $1,800 | $2,497 | $697 | $2,566 | $2,799 | $999 |
| Moore | Woodvale | 46.4% | $2,167 | $3,006 | $839 | $3,089 | $3,346 | $1,179 |
| Bullwinkel | High Wycombe | 45.7% | $1,733 | $2,404 | $671 | $2,470 | $2,676 | $943 |
Source ABS/Federal Parliamentary Library
