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Housing Expenses Lead Australians' Financial Worries in 2026

Rising Mortgage Repayments and Rent Increases Heighten Financial Stress

Housing Expenses Lead Australians' Financial Worries in 2026?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

As Australians step into 2026, housing costs have emerged as the foremost financial concern, overshadowing other cost-of-living pressures.
The latest Canstar Consumer Pulse Report reveals that 22% of respondents identified mortgage and rent expenses as their primary financial stressor, more than doubling the figure from five years ago.

Millennials are particularly affected, with monthly repayments on a $600,000, 30-year home loan taken out before the Reserve Bank's tightening cycle now averaging around $3,734-a 50% increase since May 2022. Renters are also feeling the strain, especially among Generation Z, with average weekly rent hikes of $62 reported.

Beyond housing, grocery prices remain a significant concern, cited by 18% of households. The average weekly grocery bill has risen to $202, with 93% attributing the increase to higher prices rather than increased consumption. Additionally, electricity and gas bills continue to burden Australians, with the average quarterly electricity bill rising by $68 to $439 in 2025.

These escalating costs highlight the need for effective financial management strategies. For those juggling multiple debts, considering the option of debt consolidation loans could potentially offer a means to simplify repayments and potentially reduce overall interest expenses, providing some relief amid rising living costs.

Published:Thursday, 29th Jan 2026
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

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Finance News

Australian Mortgage Market Hits Record $2.41 Trillion
Australian Mortgage Market Hits Record $2.41 Trillion
29 Jan 2026: Paige Estritori
The Australian mortgage market has reached a new milestone, with the total value of residential mortgages climbing to $2.41 trillion in November 2025. This growth is largely attributed to escalating property prices and a surge in lending activity. - read more
Housing Expenses Lead Australians' Financial Worries in 2026
Housing Expenses Lead Australians' Financial Worries in 2026
29 Jan 2026: Paige Estritori
As Australians step into 2026, housing costs have emerged as the foremost financial concern, overshadowing other cost-of-living pressures. The latest Canstar Consumer Pulse Report reveals that 22% of respondents identified mortgage and rent expenses as their primary financial stressor, more than doubling the figure from five years ago. - read more
NAB Raises Fixed Mortgage Rates in Response to Expected Cash Rate Hikes
NAB Raises Fixed Mortgage Rates in Response to Expected Cash Rate Hikes
29 Jan 2026: Paige Estritori
National Australia Bank (NAB) has recently increased its fixed mortgage rates by up to 0.40 percentage points, signaling expectations of forthcoming cash rate hikes in 2026. This move aligns with actions taken by other major lenders, reflecting a broader anticipation of rising interest rates. - read more
Non-Bank Lenders Escalate Legal Actions as SME Insolvencies Surge
Non-Bank Lenders Escalate Legal Actions as SME Insolvencies Surge
21 Jan 2026: Paige Estritori
In recent years, Australia's small and medium-sized enterprises (SMEs) have faced mounting financial pressures, leading to a notable increase in insolvencies. A significant development in this landscape is the escalating involvement of non-bank lenders in court-based enforcement actions against struggling businesses. - read more
Westpac's New Debt Consolidation Loan Aims to Ease Post-Holiday Financial Strain
Westpac's New Debt Consolidation Loan Aims to Ease Post-Holiday Financial Strain
21 Jan 2026: Paige Estritori
The post-holiday season often brings financial challenges for many Australians, with increased expenses leading to heightened stress. Recognizing this, Westpac has introduced a special debt consolidation personal loan at an interest rate of 11.95% per annum, available for a limited time. - read more
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