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Australia’s mortgage burden is now above 1989 levels – when interest rates were 17%
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Australia’s mortgage burden is now above 1989 levels – when interest rates were 17%

The Guardian · Jul 1, 2026, 2:01 PM · Also reported by 3 other sources

Why this matters: a developing story that could shape the day's news cycle.

KPMG analysis rebuts claims older generations had it harder when it came to buying and paying off a home Get our breaking news email, free app or daily news podcast Australia’s national mortgage burden is heavier now than it was when lending rates reached 17% at the end of the 1980s, new analysis reveals.Terry Rawnsley, an urban economist at KPMG, said his research was in part a “myth-busting” exercise aimed at rebutting oft-repeated claims that previous generations had it harder when it came to buying and paying off a home. Continue reading...

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