18 August 2010
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.
