Mortgage holders in Australia take advantage of low petrol prices

Font size :
A report from Fitch Ratings indicated that low retail petrol prices for two years have given Australian households the opportunity to reduce living expenses, boost savings, and cope better with mortgage obligations.

According to the report from Fitch’s Asia-Pacific Structured Finance Chart of the Month series, Australian households spent an average of A$2,604 between May 2015 and May 2016 on unleaded petrol. This is lower than the May 2014 to May 2015 figures by A$260, and A$540 lower than in May 2013 to May 2014. The figures are based on the average fuel consumption of 40 litres per week and average national retail unleaded petrol price from the Australian Institute of Petroleum.

This reduction in expenses could have contributed to the strong mortgage performance in the Australian market, along with lower mortgage rates and buoyant house prices.

However, Fitch also noted that petrol prices have a higher degree of volatility compared to mortgage rates. This might give households an expense shock once petrol prices rise, especially if they had not been able to translate their lower petrol expenses to savings.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 20, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords