What is the average mortgage in Australia?
As the rate of Australian homeowners continues to descend, it’s a strange time for those invested in the property market. Whether you are currently a homeowner, looking to buy a house, or simply interested in the movement of house prices, the average loan size is something we can all be curious about.
So what is the average mortgage? In the June quarter 2026, the average new owner-occupier home loan in Australia was $731,000, based on lending indicators from the Australian Bureau of Statistics (ABS).
However, this figure only tells a part of the story. The average home loan in Sydney is an entirely different thing from the average home loan in the regional Northern Territory. We’ll take a look at the average Australian home loan for investors and owner-occupiers, hopefully giving you a more complete picture of Australian real estate.
The average mortgage around Australia
There are a few factors to remember when looking at average figures for home loan size. These include the location of the property (each state has a very different property market), whether it is an investor or owner-occupier loan, and whether it is for an existing property or a newly built property.
Looking at new owner-occupier home loans (excluding refinancing), the average loan amounts for each state in the June quarter 2026 were:
- New South Wales (NSW) average mortgage amount: $842,000
- Queensland (QLD) average mortgage amount: $751,000
- Western Australia (WA) average mortgage amount: $720,000
- South Australia (SA) average mortgage amount: $672,000
- Australian Capital Territory (ACT) average mortgage amount: $666,000
- Victoria (Vic) average mortgage amount: $664,000
- Northern Territory (NT) average mortgage amount: $545,000
- Tasmania (Tas) average mortgage amount: $516,000
Data from ABS Lending Indicators, June quarter 2026 (released 14 August 2026). Figures are rounded to the nearest $1,000.
The national average peaked at about $737,000 in the December quarter 2025 and has eased slightly since, to $731,000 in the June quarter 2026. That is still about 7.8% higher than a year earlier, when it was about $678,000. In the same quarter, the average new investor loan was $708,000 and the average first home buyer (owner-occupier) loan was about $610,000.
These figures cover new loans only, not the balance still owing on existing mortgages. Average loan sizes tend to follow property prices and how much lenders are willing to lend, which is why they rose so strongly through 2025 as prices climbed. The biggest rises over the year were in WA (up 16.1%), Queensland (13.3%) and the NT (12.6%).
For first-home buyers, the market has shifted in 2026. Cotality (formerly CoreLogic) reports that national home values fell 0.9% in August 2026, their fifth monthly fall in a row, leaving them 3.6% below the March 2026 peak but still 2.7% higher than a year earlier. Over the four weeks to 30 August 2026, capital city listings were 24% higher than a year ago, even though the flow of new listings was 6% lower.
When paying off a mortgage, borrowers also have to consider the cost of repayments and how those will fit in with their financial situation.
How to lower your mortgage rate
How much are average mortgage repayments in Australia?
To work out the average mortgage repayment, we have to consider whether the home loans are fixed rate or variable rate. The Reserve Bank of Australia (RBA) raised the cash rate three times in the first half of 2026, in February, March and May, which pushed up monthly repayments for many borrowers. Check the RBA website for the current cash rate.
The RBA controls the cash rate, which trickles onto other products that attract interest (like personal loans and credit cards). This includes mortgage rates, where variable-rate home loans are subject to changes, along with banks increasing or reducing their interest rates. Fixed-rate home loans will temporarily be locked at the rate they were applied for, but once the fixed rate expires, borrowers will be subject to all of the same rate movements.
Some home loan repayments may also include additional fees, like monthly service fees. Looking at the comparison rate rather than the headline rate can give you a more accurate idea of how much you will pay on top of the loan amount.
Calculating an average mortgage repayment is difficult since the average mortgage size varies so much. To estimate it, we take the RBA's average interest rate on outstanding owner-occupier variable-rate home loans (6.2% p.a. in July 2026, the latest month published) and apply it to the average new loan size for each state listed above, assuming a 30-year principal and interest loan. This works out as follows:
- NSW Average monthly mortgage repayments: $5,157
- QLD Average monthly mortgage repayments: $4,600
- WA Average monthly mortgage repayments: $4,410
- SA Average monthly mortgage repayments: $4,116
- ACT Average monthly mortgage repayments: $4,079
- Vic Average monthly mortgage repayments: $4,067
- NT Average monthly mortgage repayments: $3,338
- Tas Average monthly mortgage repayments: $3,160
On the national average new loan of $731,000, the same assumptions give a monthly repayment of about $4,477. These averages are estimates only. They do not consider any extra repayments, promotional interest rates, the ability to refinance, or any rate changes after July 2026.
If you can refinance to a lower interest rate on your home loan, you may be able to save a considerable amount on your repayments. Different lenders may offer more competitive options, with particular products offering incentives like cashback or offset accounts. If you find yourself in this position, it may be worth shopping around or consulting a mortgage broker.
