According to a 2024 survey in Australia, nearly ** percent of Gen Z respondents had no debt at all. The generation with the second-highest share of respondents with no debt was the Baby Boomer generation, in which nearly ** percent of respondents said they had no debt.

Key information about Australia Household Debt: % of GDP

• Australia household debt accounted for 120.3 % of the country's Nominal GDP in Jun 2025, compared with the ratio of 119.3 % in the previous quarter.
• Australia household debt to GDP ratio is updated quarterly, available from Jun 1988 to Jun 2025.
• The data reached an all-time high of 1,696.5 % in Dec 2023 and a record low of 72.3 % in Dec 2005.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Australian Bureau of Statistics provides Household Debt in local currency and Nominal GDP in local currency.


Related information about Australia Household Debt: % of GDP

• In the latest reports, Australia Household Debt reached 2,192.2 USD bn in Jun 2025.
• Money Supply M2 in Australia increased 7.1 % YoY in Oct 2025.
• Australia Foreign Exchange Reserves was measured at 41.4 USD bn in Oct 2025.
• The Foreign Exchange Reserves equaled 1.5 Months of Import in Sep 2025.
• Australia Domestic Credit reached 3,883.6 USD bn in Sep 2025, representing an increased of 3.6 % YoY.
• The country's Non Performing Loans Ratio stood at 1.2 % in Jun 2025, compared with the ratio of 1.2 % in the previous quarter.

According to a survey conducted in November 2023 among Australian consumers, ** percent of respondents accumulated debt in the form of credit cards. According to the source, 2023 Buy Now, Pay Later (BNPL) services became the second most common form of personal debt in Australia.  Personal debt on the rise According to a survey, the average value of personal debt (excluding home loans) across all generations in Australia had increased between 2020 and 2021. While this is unlikely only attributed to the accessibility of BNPL services, some financial advisors have voiced their concerns about the overuse of such services. In a recent survey among financial advisors, most respondents stated that among their clients with BNPL debt, the majority were struggling to pay living expenses. Buy Now, Pay Later services Buy Now, Pay Later services are widely available across Australia. As the name implies, consumers can purchase a product immediately using a credit service, while paying off the purchase amount in pre-agreed installments. Little to no fees are charged unless the installment payments are not made as agreed. A quarter of Australians who shop online have used this form of payment on clothing or accessory purchases. Afterpay, Zip, and Latitude Pay were all commonly known BNPL services in the country. It is not uncommon for consumers to have multiple BNPL accounts, largely because a particular store did not offer an existing service provider.

According to a 2024 survey on buy now pay later (BNPL) services, the average amount of debt BNPL users carried in Australia as of July 2024 stood at approximately *** Australian dollars. The BNPL debts in Australia peaked in January 2022, when users had an average BNPL debt amount of **** thousand Australian dollars.

According to a survey on buy now, pay later (BNPL) in Australia, ** percent of respondents stated that they used BNPL services in the past six months as of July 2024. The country has seen a rapid uptake of BNPL services over the past few years, with consumers attracted to the zero-interest sometimes offered and convenience. BNPL in Australia The overall penetration rate of BNPL is high in Australia compared to similar economies. Still, there are differences between generational usage of BNPL services in Australia, with Gen Z and Millennial consumers using these payment services more than older generations. The leading BNPL brand in Australia is afterpay, with a high adoption rate for both point-of-sale and online transactions. Consumer credit causing problems? The average BNPL debt in Australia has consistently exceeded 1,000 Australian dollars over the past few years, though as of July 2024, has dropped to under *** Australian dollars. Due to cost-of-living pressures, many consumers have had to pay for essential items with the payment service, according to financial advisors in Australia. While the benefit of having the item purchased immediately is clear, BNPL users often need to pay late fees if they do not make their scheduled repayments on time.

Key information about Australia Non Performing Loans Ratio

• Australia Non Performing Loans Ratio stood at 1.2 % in Jun 2025, compared with the ratio of 1.2 % in the previous quarter
• Australia Non Performing Loans Ratio data is updated quarterly, available from Jun 2004 to Jun 2025
• The data reached an all-time high of 206.4 % in Dec 2017 and a record low of -40.0 % in Dec 2014

CEIC calculates quarterly Non Performing Loans Ratio from quarterly Non Performing Loans and quarterly Total Loans. Australian Prudential Regulation Authority provides Non Performing Loans and Total Loans. Non Performing Loans Ratio prior to Q1 2022 is calculated from the sum of the Impaired Assets and those Past Due Items that are overdue for 90 days or more.


Further information about Australia Non Performing Loans Ratio

• In the latest reports, Money Supply M2 in Australia increased 7.1 % YoY in Oct 2025
• Australia Foreign Exchange Reserves was measured at 41.4 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 1.5 Months of Import in Sep 2025
• The country's Domestic Credit reached 3,883.6 USD bn in Sep 2025, representing an increased of 3.6 % YoY
• Household Debt of Australia reached 2,192.2 USD bn in Jun 2025, accounting for 120.3 % of the country's Nominal GDP