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Housing Expenses Lead Australians' Financial Worries in 2026
Rising Mortgage Repayments and Rent Increases Heighten Financial Stress
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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.
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
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
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