SENATOR DEAN SMITH
SHADOW ASSISTANT MINISTER TO THE SHADOW TREASURER
SHADOW ASSISTANT MINISTER FOR THE COST OF LIVING
LIBERAL SENATOR FOR WESTERN AUSTRALIA
26 February 2026
WA SUBURBS WORST AFFECTED BY LABOR’S MORTGAGE PAIN REVEALED
The top ten suburbs negatively impacted by 13 interest rate rises under the Albanese Government have been revealed.
New analysis of ABS Census figures*, commissioned by Senator Dean Smith from the Federal Parliamentary Library, shows where mortgage pain is hitting hardest.
Brabham–Henley Brook topped the list of homes owned with a mortgage at 75.5 percent, followed by Piara Waters–Forrestdale (72.7 percent), Byford (68.4 percent), Landsdale (68.1 percent) and Harrisdale (67.2 percent).
Rounding out the list were Aveley (67 percent) Carramar (66 percent), Alkimos-Eglinton (64.6 percent), Casuarina–Wandi (64.1 percent) and Wellard–Bertram (61.3 percent).
It is worth noting that these suburbs are located in the Labor-held seats of Burt, Hasluck, Brand, Cowan and Pearce – highlighting that the very communities Labor represents are among those most exposed to rising interest rates and mortgage stress.
The analysis uses the most recent Census data on mortgaged homes and models repayment changes to include the February 2026 interest rate increase – and the potential effect of further increases.
In Piara Waters-Forrestdale, for example, mortgage holders experienced a $785 increase in median monthly repayments between August 2021 and January 2026 – the majority of which Labor has been in Government.
Between January and February 2026 alone, as a result of the recent RBA decision to raise interest rates, this jumped $78 a month, or $936 a year.
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 remaining quarter of 2026, monthly mortgage repayments in Piara Waters-Forrestdale would climb by $240 – representing a whopping $2,880 annually.
Because the Census baseline is from August 2021, the number of affected households today is likely significantly higher, reflecting population growth and new housing development across Perth’s outer metropolitan growth corridors.
The impact is accentuated by the fact loans are larger, 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:
“The next election will be won or lost on the cost of living and Labor’s failure to keep inflation in check.”
“Many of those bearing the worst of the brunt are living in Labor-held electorates that are battleground seats for winning Federal Government.”
This analysis, which goes beyond the percentages to reveal the actual financial impact on Western Australians, confirms those who are struggling to make ends meet under the Albanese Government are the people whose interests it was elected to represent.”
“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 highlight the significant, additional mortgage pain that will hit Western Australian household budgets if market predictions of another three rate increases come to pass on Labor’s watch.”
*ABS Census, August 2021
