Australian home loan statistics 2020

By Peter Marshall ·

Aussies love real estate. There are currently around 10.3 million properties in Australia and of these 6 million have mortgages against them. Mozo tracks over 500 home loan products in our database and here we showcase key home loan analytics, including a historical overview of the home loan market in Australia, a breakdown between fixed and variable home loan interest rates, lending amounts and the split between borrower types.

Variable Rate Home Loans

Variable Rate Home Loans

3.34%

Average variable home loan rate for owner occupiers - November 2020

$1,761

Initial monthly repayment on average rate on a $400,000 over 30 years - November 2020

Fixed Rate Home Loans

Fixed Rate Home Loans

2.48%

Average 2 year fixed rate for owner occupiers - November 2020

Home Loan Volumes

Home Loan Volumes

$447,488

Average new lending amount (excluding refinancing) - September 2020

$17.6 billion

Owner occupied total new lending (excluding refinancing) - September 2020

Top Variable Home Loan Rates

Top Variable Home Loan Rates - November 2020

Well Home Loans - Well Balanced

2.17% (2.20% comparison rate*) variable rate

Reduce Home Loans - Economizer Variable

2.19% (2.23% comparison rate*) variable rate

Tic:Toc - Variable Home Loan

2.19% (2.20% comparison rate*) variable rate

Homestar - Star Essentials Home Loan

2.29% (2.29% comparison rate*) variable rate

Freedomlend - Variable Home Loan Special

2.39% (2.39% comparison rate*) variable rate

Leading owner occupied, principal & interest home loans at 80% LVR, $400,000 loan amount in the mozo.com.au database. Accurate as at latest page published date.

 

Home buying by the numbers

Our homes are among some of the most expensive in the world, and right now Australians are faced with tough economic conditions following the summer bushfires and the COVID-19 pandemic. And yet, home loan interest rates are at historical low levels. To further help Aussies get into the property market, the Morrison Government has introduced new stimulus schemes like HomeBuilder and has extended existing programs such as the first home buyer deposit scheme. Start your research by using Mozo’s expert statistics as your guide.

  

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*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
 
Information accurate as at latest published date.

Peter Marshall
Banking expert

Peter Marshall has been working in the Australian banking and finance industry for over 20 years and oversees Mozo’s extensive product database. He is regularly sought out for his expert commentary and analysis on banking and interest rates trends by print, radio and TV media.

For media and bestoke data enquiries: Get in touch with our team at: research@mozo.com.au