In recent years, the value of mortgage debt outstanding in Australia has been growing for both owner-occupied and investment housing. As of December 2024, the mortgage debt secured on owner-occupier housing amounted to over 1.6 trillion Australian dollars. In comparison, in December 2011, borrowers owed roughly 825 billion Australian dollars.

Australia Residential Mortgages: ADIs: Credit Outstanding data was reported at 2,288,546.400 AUD mn in Sep 2024. This records an increase from the previous number of 2,262,093.500 AUD mn for Jun 2024. Australia Residential Mortgages: ADIs: Credit Outstanding data is updated quarterly, averaging 2,000,551.000 AUD mn from Mar 2019 (Median) to Sep 2024, with 23 observations. The data reached an all-time high of 2,288,546.400 AUD mn in Sep 2024 and a record low of 1,790,106.800 AUD mn in Mar 2019. Australia Residential Mortgages: ADIs: Credit Outstanding data remains active status in CEIC and is reported by Australian Prudential Regulation Authority. The data is categorized under Global Database’s Australia – Table AU.KB024: Residential Mortgage: Credit Outstanding.

In financial year 2024, the total value of Australian home loan lending of Westpac Banking amounted to approximately 473 billion Australian dollars, marking an increase from the previous year. Headquartered in Sydney, New South Wales, Westpac Banking is one of Australia's leading banking and financial services companies.

In financial year 2024, the total value of National Australia Bank's home loan lending rose to approximately 416 billion Australian dollars. National Australia Bank (NAB) is one of Australia's big four banks in terms of market capitalization alongside the Commonwealth Bank of Australia (CBA), Westpac, and the ANZ Bank.

Key information about Australia Household Debt: % of GDP

• Australia household debt accounted for 116.6 % of the country's Nominal GDP in Mar 2023, compared with the ratio of 118.0 % in the previous quarter.
• Australia household debt to GDP ratio is updated quarterly, available from Jun 1988 to Mar 2023.
• The data reached an all-time high of 129.4 % in Sep 2016 and a record low of 44.2 % in Sep 1988.

• In the latest reports, Australia Household Debt reached 1,957.6 USD bn in Mar 2023.
• Money Supply M2 in Australia increased 4.1 % YoY in Jun 2023.
• Australia Foreign Exchange Reserves was measured at 37.1 USD bn in Jun 2023.
• The Foreign Exchange Reserves equaled 1.5 Months of Import in May 2023.
• Australia Domestic Credit reached 3,627.0 USD bn in May 2023, representing an increased of 1.9 % YoY.
• The country's Non Performing Loans Ratio stood at 0.8 % in Mar 2023, compared with the ratio of 0.8 % in the previous quarter.

In financial year 2024, the total value of ANZ Bank's home loan lending rose to approximately 484 billion Australian dollars. The Australia and New Zealand (ANZ) Banking Group is one of Australia's big four banks in terms of market capitalization alongside the Commonwealth Bank of Australia (CBA), Westpac, and National Australia Bank (NAB).

Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: New South Wales data was reported at 4,961.600 AUD mn in Mar 2020. This records an increase from the previous number of 3,653.400 AUD mn for Feb 2020. Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: New South Wales data is updated monthly, averaging 2,913.800 AUD mn from Jul 2002 (Median) to Mar 2020, with 213 observations. The data reached an all-time high of 5,546.100 AUD mn in Nov 2017 and a record low of 1,773.600 AUD mn in Jan 2005. Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: New South Wales data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.KB008: Lending Indicators: Economic and Financial Statistics (EFS) Collection: Housing Finance: Owner Occupiers.

In 2024, the ten largest mortgage lenders in Australia had a market share of roughly 91 percent of the mortgage market. The Commonwealth Bank of Australia and Westpac Banking Corporation were the largest mortgage lenders, with approximately 6.7 and 5.7 billion Australian dollars in gross mortgage lending, respectively.

Key information about Australia Non Performing Loans Ratio

• Australia Non Performing Loans Ratio stood at 1.1 % in Dec 2024, compared with the ratio of 1.1 % in the previous quarter
• Australia Non Performing Loans Ratio data is updated quarterly, available from Jun 2004 to Dec 2024
• The data reached an all-time high of 2.2 % in Jun 2010 and a record low of 0.5 % in Dec 2007

• In the latest reports, Money Supply M2 in Australia increased 5.3 % YoY in Jan 2025
• Australia Foreign Exchange Reserves was measured at 41.9 USD bn in Feb 2025
• The Foreign Exchange Reserves equaled 1.5 Months of Import in May 2023
• The country's Domestic Credit reached 3,589.5 USD bn in Jan 2025, representing an increased of 2.7 % YoY
• Household Debt of Australia reached 2,206.9 USD bn in Sep 2024, accounting for 116.6 % of the country's Nominal GDP

Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing data was reported at 14,200.300 AUD mn in Mar 2020. This records an increase from the previous number of 12,001.800 AUD mn for Feb 2020. Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing data is updated monthly, averaging 10,054.100 AUD mn from Jul 2002 (Median) to Mar 2020, with 213 observations. The data reached an all-time high of 16,492.600 AUD mn in Nov 2017 and a record low of 5,696.600 AUD mn in Jan 2004. Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.KB008: Lending Indicators: Economic and Financial Statistics (EFS) Collection: Housing Finance: Owner Occupiers.

In the 2024 financial year, the total value of the Commonwealth Bank of Australia's home loan lending rose to approximately 664 billion Australian dollars. CommBank is currently the largest Australian bank in terms of market capitalization, with a presence in New Zealand, Asia, the United States, and the United Kingdom.

Australia Households: Housing Finance: Trend: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: Tasmania data was reported at 224.300 AUD mn in Feb 2020. This records an increase from the previous number of 220.500 AUD mn for Jan 2020. Australia Households: Housing Finance: Trend: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: Tasmania data is updated monthly, averaging 163.500 AUD mn from Jul 2002 (Median) to Feb 2020, with 212 observations. The data reached an all-time high of 226.900 AUD mn in Apr 2009 and a record low of 82.900 AUD mn in Jul 2002. Australia Households: Housing Finance: Trend: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: Tasmania data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.KB008: Lending Indicators: Economic and Financial Statistics (EFS) Collection: Housing Finance: Owner Occupiers.

Credit unions became authorised deposit-taking institutions (ADIs) under the Banking Act 1959 on 1 July 1999 when responsibility for their prudential regulation shifted from the States and Territories to the Australian Prudential Regulation Authority (APRA). Since 1 July 1999, credit unions have submitted monthly returns to APRA; prior to that date, they submitted returns to the Reserve Bank under the Financial Corporations Act 1974. In September 2001, APRA implemented new reporting forms for credit unions. From October 2001, data are derived from ARF 323.0: Statement of Financial Position (Licensed ADI). Since December 1999, series have only included data for credit unions with total assets greater than or equal to $50 million.

Selected assets:

‘Cash and liquid assets’ is composed of ‘Cash’, ‘Balances with ADIs’ and ‘Other’. None of these items include bills of exchange, bills receivable, remittances in transit or certificates of deposit.

‘Cash’ includes Australian and foreign currency notes and coins, gold coin, gold bullion, and gold certificates held as investments. It excludes loans repayable in gold bullion.

‘Balances with ADIs’ includes deposits at call with Australian resident banks and other ADIs and settlement account balances due from banks and other ADIs, incorporating receivables for unsettled sales of securities.

‘Other’ includes deposits at call with Registered Financial Corporations (RFCs) and other financial institutions, net claims on recognised clearing houses in Australia, securities purchased under agreements to resell, funds held with the Reserve Bank and other central banks, and settlement account balances due from the Reserve Bank, other central banks, RFCs and other financial institutions, incorporating receivables for unsettled sales of securities.

‘Government securities’, ‘ADI securities’, ‘Corporate paper’ and ‘Other securities’ include both trading and investment securities. Trading securities are recorded at net fair value. Investment securities are recorded at cost and adjusted for the amortisation of any premiums and discounts on purchase over the period of maturity.

‘Government securities’ include securities issued by the Australian, State, Territory and local governments and State and Territory central borrowing authority (CBA) securities.

‘ADI securities’ includes securities issued by banks and other ADIs, but not equity investments in parent, controlled or associated entities.

‘Other securities’ includes asset-backed securities, other debt securities and equity securities, other than those issued by ADIs, but not equity investments in parent, controlled or associated entities.

‘Residential’ includes both owner-occupied and investment housing loans to Australian households, net of specific provisions for doubtful debts.

‘Personal’ includes revolving credit for a purpose other than housing, credit card liabilities, lease financing net of unearned revenue, and other personal term loans to Australian households net of specific provisions for doubtful debts.

‘Commercial’ includes loans to public non-financial corporations, private trading corporations, private unincorporated businesses, community service organisations, Australian, State, Territory and local governments, ADIs and other financial institutions, net of specific provisions for doubtful debts. Loans to ADIs and other financial institutions includes loans to the Reserve Bank and other central banks, banks, other ADIs, RFCs, central borrowing authorities, fund managers, stockbrokers, insurance brokers, securitisers, mortgage, fixed interest and equity unit trusts and other financial intermediaries.

Selected Liabilities:

‘Borrowings from ADIs’ includes settlement account balances due to ADIs and both variable and fixed interest rate short-term loans from ADIs. A loan is reported as short-term if its residual term to maturity is one year or less.

‘Deposits’ includes retail transaction call deposit accounts held by households, all other transaction call deposit accounts held by entities other than households, deposits from resident banks, resident non-bank financial institutions and intermediaries such as merchant banks, vostro balances from banks and non-bank financial institutions (NBFIs), the Australian-dollar equivalent of foreign currency deposits, deposits from controlled and associated entities, retail non-transaction call deposit accounts held by households, all other non-transaction deposit call accounts held by entities other than households, term deposits, certificates of deposit and other forms of deposits.

‘Other’ liabilities includes settlement account balances due to RFCs and other financial institutions, securities sold under agreements to repurchase, promissory notes or commercial paper with a residual term to maturity of one year or less, other debt securities with a residual term of one year or less, variable interest rate short-term loans from counterparties other than ADIs, fixed interest rate short-term loans from counterparties other than ADIs, debt securities with a residual term to maturity of more than one year, variable and fixed interest rate loans and borrowings from Australian residents with a residual term to maturity of more than one year, interest accrued but not yet paid, interest received but not yet earned, unrealised losses on trading derivatives, items in suspense and other liabilities not separately identified above. A loan is reported as short-term if its residual term to maturity is one year or less. ‘Other’ liabilities do not include amounts due to clearing houses.

Australia Households: Housing Finance: New Loan Commitments: Investor: No: Total Housing Excl Refinancing: Victoria data was reported at 3,316.000 Number in Mar 2020. This records an increase from the previous number of 3,221.000 Number for Feb 2020. Australia Households: Housing Finance: New Loan Commitments: Investor: No: Total Housing Excl Refinancing: Victoria data is updated monthly, averaging 3,942.000 Number from Jul 2019 (Median) to Mar 2020, with 9 observations. The data reached an all-time high of 4,170.000 Number in Dec 2019 and a record low of 3,221.000 Number in Feb 2020. Australia Households: Housing Finance: New Loan Commitments: Investor: No: Total Housing Excl Refinancing: Victoria data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.KB009: Lending Indicators: Economic and Financial Statistics (EFS) Collection: Housing Finance: Investors.

Building societies became authorised deposit-taking institutions (ADIs) under the Banking Act 1959 on 1 July 1999 when responsibility for their prudential regulation shifted from the States and Territories to the Australian Prudential Regulation Authority (APRA). Since 1 July 1999, building societies have submitted monthly returns to APRA; prior to that date, they submitted returns to the Reserve Bank under the Financial Corporations Act 1974. In September 2001, APRA implemented new reporting forms for building societies. From October 2001, data are derived from ARF 323.0: Statement of Financial Position (Licensed ADI). Since December 1999, series have only included data for building societies with total assets greater than or equal to $50 million.

Selected assets:

‘Cash and liquid assets’ is composed of ‘Cash’, ‘Balances with ADIs’ and ‘Other’. None of these items include bills of exchange, bills receivable, remittances in transit or certificates of deposit.

‘Cash’ includes Australian and foreign currency notes and coins, gold coin, gold bullion, and gold certificates held as investments. It excludes loans repayable in gold bullion.

‘Balances with ADIs’ includes deposits at call with Australian resident banks and other ADIs and settlement account balances due from banks and other ADIs, incorporating receivables for unsettled sales of securities.

‘Other’ includes deposits at call with Registered Financial Corporations (RFCs) and other financial institutions, net claims on recognised clearing houses in Australia, securities purchased under agreements to resell, funds held with the Reserve Bank and other central banks, and settlement account balances due from the Reserve Bank, other central banks, RFCs and other financial institutions, incorporating receivables for unsettled sales of securities.

‘Government securities’, ‘ADI securities’, ‘Corporate paper’ and ‘Other securities’ include both trading and investment securities. Trading securities are recorded at net fair value. Investment securities are recorded at cost and adjusted for the amortisation of any premiums and discounts on purchase over the period of maturity.

‘Government securities’ include securities issued by the Australian, State, Territory and local governments and State and Territory central borrowing authority (CBA) securities.

‘ADI securities’ includes securities issued by banks and other ADIs, but not equity investments in parent, controlled or associated entities.

‘Other securities’ includes asset-backed securities, other debt securities and equity securities, other than those issued by ADIs, but not equity investments in parent, controlled or associated entities.

‘Residential’ includes both owner-occupied and investment housing loans to Australian households, net of specific provisions for doubtful debts.

‘Personal’ includes revolving credit for a purpose other than housing, credit card liabilities, lease financing net of unearned revenue, and other personal term loans to Australian households net of specific provisions for doubtful debts.

‘Commercial’ includes loans to public non-financial corporations, private trading corporations, private unincorporated businesses, community service organisations, Australian, State, Territory and local governments, ADIs and other financial institutions, net of specific provisions for doubtful debts. Loans to ADIs and other financial institutions includes loans to the Reserve Bank and other central banks, banks, other ADIs, RFCs, central borrowing authorities, fund managers, stockbrokers, insurance brokers, securitisers, mortgage, fixed interest and equity unit trusts and other financial intermediaries.

Selected Liabilities:

‘Borrowings from ADIs’ includes settlement account balances due to ADIs and both variable and fixed interest rate short-term loans from ADIs. A loan is reported as short-term if its residual term to maturity is one year or less.

‘Deposits’ includes retail transaction call deposit accounts held by households, all other transaction call deposit accounts held by entities other than households, deposits from resident banks, resident non-bank financial institutions and intermediaries such as merchant banks, vostro balances from banks and non-bank financial institutions (NBFIs), the Australian-dollar equivalent of foreign currency deposits, deposits from controlled and associated entities, retail non-transaction call deposit accounts held by households, all other non-transaction deposit call accounts held by entities other than households, term deposits, certificates of deposit and other forms of deposits.

‘Other’ liabilities includes settlement account balances due to RFCs and other financial institutions, securities sold under agreements to repurchase, promissory notes or commercial paper with a residual term to maturity of one year or less, other debt securities with a residual term of one year or less, variable interest rate short-term loans from counterparties other than ADIs, fixed interest rate short-term loans from counterparties other than ADIs, debt securities with a residual term to maturity of more than one year, variable and fixed interest rate loans and borrowings from Australian residents with a residual term to maturity of more than one year, interest accrued but not yet paid, interest received but not yet earned, unrealised losses on trading derivatives, items in suspense and other liabilities not separately identified above. A loan is reported as short-term if its residual term to maturity is one year or less. ‘Other’ liabilities do not include amounts due to clearing houses.

Credit unions became authorised deposit-taking institutions (ADIs) under the Banking Act 1959 on 1 July 1999 when responsibility for their prudential regulation shifted from the States and Territories to the Australian Prudential Regulation Authority (APRA). Since 1 July 1999, credit unions have submitted monthly returns to APRA; prior to that date, they submitted returns to the Reserve Bank under the Financial Corporations Act 1974. In September 2001, APRA implemented new reporting forms for credit unions. From October 2001, data are derived from ARF 323.0: Statement of Financial Position (Licensed ADI). Since December 1999, series have only included data for credit unions with total assets greater than or equal to $50 million. Selected assets: ‘Cash and liquid assets’ is composed of ‘Cash’, ‘Balances with ADIs’ and ‘Other’. None of these items include bills of exchange, bills receivable, remittances in transit or certificates of deposit. ‘Cash’ includes Australian and foreign currency notes and coins, gold coin, gold bullion, and gold certificates held as investments. It excludes loans repayable in gold bullion. ‘Balances with ADIs’ includes deposits at call with Australian resident banks and other ADIs and settlement account balances due from banks and other ADIs, incorporating receivables for unsettled sales of securities. ‘Other’ includes deposits at call with Registered Financial Corporations (RFCs) and other financial institutions, net claims on recognised clearing houses in Australia, securities purchased under agreements to resell, funds held with the Reserve Bank and other central banks, and settlement account balances due from the Reserve Bank, other central banks, RFCs and other financial institutions, incorporating receivables for unsettled sales of securities. ‘Government securities’, ‘ADI securities’, ‘Corporate paper’ and ‘Other securities’ include both trading and investment securities. Trading securities are recorded at net fair value. Investment securities are recorded at cost and adjusted for the amortisation of any premiums and discounts on purchase over the period of maturity. ‘Government securities’ include securities issued by the Australian, State, Territory and local governments and State and Territory central borrowing authority (CBA) securities. ‘ADI securities’ includes securities issued by banks and other ADIs, but not equity investments in parent, controlled or associated entities. ‘Other securities’ includes asset-backed securities, other debt securities and equity securities, other than those issued by ADIs, but not equity investments in parent, controlled or associated entities. ‘Residential’ includes both owner-occupied and investment housing loans to Australian households, net of specific provisions for doubtful debts. ‘Personal’ includes revolving credit for a purpose other than housing, credit card liabilities, lease financing net of unearned revenue, and other personal term loans to Australian households net of specific provisions for doubtful debts. ‘Commercial’ includes loans to public non-financial corporations, private trading corporations, private unincorporated businesses, community service organisations, Australian, State, Territory and local governments, ADIs and other financial institutions, net of specific provisions for doubtful debts. Loans to ADIs and other financial institutions includes loans to the Reserve Bank and other central banks, banks, other ADIs, RFCs, central borrowing authorities, fund managers, stockbrokers, insurance brokers, securitisers, mortgage, fixed interest and equity unit trusts and other financial intermediaries. Selected Liabilities: ‘Borrowings from ADIs’ includes settlement account balances due to ADIs and both variable and fixed interest rate short-term loans from ADIs. A loan is reported as short-term if its residual term to maturity is one year or less. ‘Deposits’ includes retail transaction call deposit accounts held by households, all other transaction call deposit accounts held by entities other than households, deposits from resident banks, resident non-bank financial institutions and intermediaries such as merchant banks, vostro balances from banks and non-bank financial institutions (NBFIs), the Australian-dollar equivalent of foreign currency deposits, deposits from controlled and associated entities, retail non-transaction call deposit accounts held by households, all other non-transaction deposit call accounts held by entities other than households, term deposits, certificates of deposit and other forms of deposits. ‘Other’ liabilities includes settlement account balances due to RFCs and other financial institutions, securities sold under agreements to repurchase, promissory notes or commercial paper with a residual term to maturity of one year or less, other debt securities with a residual term of one year or less, variable interest rate short-term loans from counterparties other than ADIs, fixed interest rate short-term loans from counterparties other than ADIs, debt securities with a residual term to maturity of more than one year, variable and fixed interest rate loans and borrowings from Australian residents with a residual term to maturity of more than one year, interest accrued but not yet paid, interest received but not yet earned, unrealised losses on trading derivatives, items in suspense and other liabilities not separately identified above. A loan is reported as short-term if its residual term to maturity is one year or less. ‘Other’ liabilities do not include amounts due to clearing houses.

Australia Households: Housing Finance: New Loan Commitments: Investor: No: Total Housing Excl Refinancing: Northern Territory data was reported at 38.000 Number in Mar 2020. This records a decrease from the previous number of 47.000 Number for Feb 2020. Australia Households: Housing Finance: New Loan Commitments: Investor: No: Total Housing Excl Refinancing: Northern Territory data is updated monthly, averaging 43.000 Number from Jul 2019 (Median) to Mar 2020, with 9 observations. The data reached an all-time high of 68.000 Number in Nov 2019 and a record low of 33.000 Number in Aug 2019. Australia Households: Housing Finance: New Loan Commitments: Investor: No: Total Housing Excl Refinancing: Northern Territory data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.KB009: Lending Indicators: Economic and Financial Statistics (EFS) Collection: Housing Finance: Investors.

In 2022, the value of the lending to households in Switzerland as a share of its gross domestic product (GDP) was higher than in any of the countries selected here. Australian, Canadian, and South Korean households had an amount of credit which was higher than the overall size of their economy. That year, household lending in Argentina amounted to 4 percent of its GDP, which was the lowest figure in the ranking.

What is the household debt?

Household debt, also known as family debt, includes loans taken to pay for the home or other property, education, vehicles, and other expenses. The largest component of this is mortgage debt, which is seen by many as a way to build long-term equity. As such, households are willing to take on a large amount of this debt with the goal of owning an asset that holds value and can be used as a residence in the meantime.

The cost of debt

The cost of a loan depends on a number of factors such as the interest rate, borrower’s credit risk or time period of a loan. The value of mortgage and the rate of return on assets such as real estate also depend largely on geographic location. The highest borrowers in this statistic are likely living in countries where credit is affordable and expected returns are relatively high, incentivizing heavy borrowing.

Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: Queensland data was reported at 2,580.000 AUD mn in Mar 2020. This records an increase from the previous number of 2,301.700 AUD mn for Feb 2020. Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: Queensland data is updated monthly, averaging 2,085.500 AUD mn from Jul 2002 (Median) to Mar 2020, with 213 observations. The data reached an all-time high of 2,999.800 AUD mn in Mar 2009 and a record low of 1,151.100 AUD mn in Sep 2002. Australia Households: Housing Finance: New Loan Commitments: Owner Occupier: Total Housing Excl Refinancing: Queensland data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.KB008: Lending Indicators: Economic and Financial Statistics (EFS) Collection: Housing Finance: Owner Occupiers.

This statistic illustrates customer satisfaction with home loans in Australia as of October 2018, broken down by method obtained and by bank. The results illustrate that overall, customer satisfaction is higher when a mortgage is obtained directly in a branch of a financial institution rather than through a mortgage lender. A total of 91.2 percent of respondents said they were satisfied with home loans obtained in branch from Bendingo Bank. By comparison, 71.7 percent stated that they were happy with a mortgage obtained in branch from NAB, compared to 63.9 percent of respondents who were happy with an NAB loan obtained via a mortgage broker.