The average South Australian homeowner is paying $20,000 more in annual mortgage payments than a decade ago, new data shows.
Compare Market Analysis PropTrack data reveals that the average South African homeowner pays $1751 more per month than a decade ago, and monthly payments now sit at $3901.
This compares to the $1747 they paid ten years ago, and results in an extra $21,012 over the course of a year.
The payments were based on RBA data on average variable rates at 5.5 per cent in September 2025 and 5.46 per cent in September 2015, and reflect a 99 per cent increase in the average loan size over that period from $309,000 in 2015 to the current $616,000.
The suburbs with the biggest increases, based on an 80 percent loan-to-value ratio — or those bought with a 20 percent deposit — are east of Burnside, where annual payments are up about $51,000 a year, Beaumont where they are up about $49,000 a year and Brightge00 for a return of about $2 a year.
Andrew Winter. Image: Provided
Compare Markets property expert Andrew Winter said for many Aussies, the struggle isn’t coming in, it’s standing still.
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“The road to home ownership in Australia is not an easy one, and these statistics tell us why,” Mr Winter said.
“Most of the time, it is emphasized to increase the deposit, but for many, the real challenge starts when they start paying the money they have borrowed.
“And if the rate goes up again this year, I think a lot of people will really feel it.”
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Blackfish Finance founder Leah Busby.
Blackfish Finance founder and mortgage broker Leah Busby said home prices have risen dramatically over the past decade, so mortgage rates will follow suit.
“Prices have gone up and down during this time so it’s not fixed to some extent,” he said.
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“It’s a combination of customers who want and need to spend more now, but also customers who are growing up with those costs, so while a decade ago they would have been first home buyers, now they’re in the family home and have kids, and they may have graduated before but now they’re at the top of their careers.
“Overall wealth is strong and people are earning more, especially in the last decade.”
Travis Denham at his home in North Brighton. Photo: Ben Clark
Magain Real Estate agent Travis Denham, who lives in North Brighton, said his mortgage payments were more than a decade ago.
“At this time, although we have improved our house and that is accompanied by the payment of a high fee,” he said.
“It’s still the biggest expense in our house though and it’s the one we keep a close eye on.
“As the cost of living continues to rise, it is important to make sure that we are careful to budget for all expenses, including the mortgage.
“In our family we usually make sure the mortgage, bills, shopping budget is paid first before we spend on the things we like.”
