MyRate reviews data showing home loan applicant patterns for different types of electorates (from the 2007 election).
This newly published data reveals that:
- Borrowers in Liberal (LIB) electorates earn approximately $3,500 more per year than those in Australian Labour Party (ALP) electorates.
- People who live in LIB electorates are borrowing an average of $23,531.20 more on their home loans than people in ALP electorates.
- The property value of the security collateral from borrowers in LIB electorates is 7.65% higher than the property value put forward by borrowers in ALP electorates.
|2007 Election winner in customer’s electorate:|
|Other loan details||Security value||$282,189||$303,771||$268,141||$220,128|
|% Self employed||7.6%||8.1%||9.5%||8.6%|
|% First home buyers||24.3%||24.8%||21.5%||17.2%|
|Loan Purpose||Owner occupied*||1.00||1.01||1.09||1.04|
*Normalised to show relative differences between electorates
Data was obtained by an aggregate mapping of anonymised customer information to their postcode and relevant electorate and 2007 election result.