Aussie households have never been this exposed to rate hikes

Financial comparison site Canstar compared the cost of mortgage repayments for those who bought median priced houses in each of Australia’s capital cities in January 2021 versus January 2022, assuming a principal and interest 30-year loan and a 20% deposit.

Despite the ongoing fall in variable mortgage rates over that time (see above chart), the typical homebuyer is paying $461 more per month in repayments than than they would have paid had they purchased the median priced home a year earlier:

This increase in mortgage repayments is due to the sharp appreciation in values over that period, from $623,602 in January 2021 to $778,255 in January 2022.