Average mortgage in WA $272,000
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Tuesday, 11 October, 2005 - 22:00
MORE Western Australians are borrowing money to invest in property than the rest of the nation, according to the AFG Mortgage Index, with 30.6 per cent of all new mortgages in WA being used for investment purposes. The average size of a new mortgage in WA is second only to New South Wales, according to the figures showing that in September the average new WA mortgage sold by AFG rose to $272,000. hile this figure is significantly behind the equivalent NSW figure of $369,000, it is higher than for any other state, including Queensland (average mortgage $267,000) and Victoria ($250,000). Data showed the trend of rising mortgages occurring in other states, though growth has been particularly strong in WA in the past four months.