Survey: 1 in 5 Australian mortgagees admit they “borrowed too much”

A new survey has revealed more than 1 in 5 homeowners think they’ve taken on too much mortgage debt. Is this how you feel?

Residz Team 2 min read


Nearly 700,000 Australian households admit they borrowed too much on their home loan, according to a new survey.

The Finder survey revealed more than 1 in 5 homeowners (21%) think they’ve taken on too much mortgage debt.

For ‘generation Z’ buyers, 1 in 4 (25%) admitted they’d borrowed too much.

Given the average monthly repayment has grown nearly $1000 from $2231 to $3128, based on a $500,000 home loan, it’s not surprising the number of households in financial distress is growing.  

Finder money expert Sarah Megginson said those who didn’t factor in rate rises could be feeling a lot of financial pressure now.

“Many Australians bought property during a record low interest rate environment and didn’t plan for what they’d do if rates went up.

“Now as interest rates skyrocket, many have been pushed to their financial limit -with further rises on the way.”

Some of Finder’s survey findings were:


Tips from Sarah Megginson if you find yourself in distress:

Residz can help buyers and sellers reduce the stress: