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: | |||||
| ALP | LIB | National | Independent | ||
| Income | PAYG income | $59,215 | $61,964 | $54,859 | $50,778 |
| Other income | $5,322 | $5,953 | $6,012 | $6,516 | |
| Total income | $64,538 | $67,917 | $60,871 | $57,294 | |
| Other loan details | Security value | $282,189 | $303,771 | $268,141 | $220,128 |
| Dependents* | 1.00 | 1.19 | 1.44 | 1.23 | |
| % 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 |
| Investment* | 1.10 | 1.13 | 1.00 | 1.25 | |
*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.