What is the average amount owed on a mortgage in your postcode?

New data shows the average amount mortgage holders, in every SA postcode, owe on their loan. What does the average punter owe in your neighbourhood?

Homeowners in five SA suburbs have almost $1m left to pay off their mortgage, on average. New data from Digital Finance Analytics lay bare the average mortgage owings of every SA postcode, with the report author warning many in SA are on a knife edge, and forecasting defaults and forced sales to rise in the months ahead.

According to the report, residents of postcode 5065 – which includes Glenside, Toorak Gardens, Dulwich, Linden Park and Tusmore – still have the most to pay off their mortgage, with the average homeowner still owing $929,231 on their mortgage.

Mortgage-holders in Glenside still have the most to pay back of any homeowners in the state. Picture: Supplied by Cedar Woods

The neighbouring postcode of 5066 – which includes Burnside, Beaumont, Hazelwood Park, Wattle Park, Erindale, Stonyfell and Waterfall Gully – was the next highest-owing, with $572,375 still left to pay.

Burnside mortgage-holders also had a fair amount still owing. Picture: Supplied by Burnside Village

Of the 219 postcodes across the state, the average South Australian still owes $168,114, with residents of 82 postcodes owing less than $100,000, and mortgage-holders in nine postcodes owing less than $50,000.

The postcode with the lowest mortgage owing is 5633, which includes Boonerdo, Lock and Ulyerra. Homeowners there owe, on average, just $23,500.

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Of all metropolitan suburbs, O’Sullivan Beach homeowners have the lowest amount still to pay at just $57,333.

The data speaks to Adelaide’s relative affordability with homeowners in 53 postcodes in Sydney having at least $1m still to pay, and homeowners in 16 Victorian postcodes owing more than $1m.

Digital Finance Analytics principal Martin North said while mortgages were lower in SA than the rest of the country, debt was at its highest level ever and the proportion of people in mortgage stress, which is defined in cash flow terms, at 54.54 per cent, is higher than the national average.

“This is because income growth is lower than other states and more households are paying a higher proportion of their income on the mortgage,” he said.

Digital Finance Analytics principal Martin North. Picture: Hollie Adams

“Many in SA are on a knife edge, and I do expect defaults and forced sales to rise in the months ahead.

“I do not expect significant rate cuts until 2025/26.”

One homeowner not concerned about her mortgage or future rate rises is registered nurse Hannah Agus, who bought in Edwardstown in June.

The 28-year-old, who has been renting since she was 18, bought through HomeStart, meaning she could purchase with a lower deposit and her repayments only increase once a year rather than each time interest rates rise.

Hannah Agus with her dog, Leo at her Edwardstown home she bought through HomeStart. Picture: Roy VanDerVegt

“With the cost of living I think we’re all so much more conscious of mortgage repayments and what it costs to get by each day,” she said.

“I think the smartest move is to keep your repayments as low as possible so that you can make additional payments to reduce it in the future.

“I wouldn’t have been able to do it without HomeStart, and I’m glad I bought when I did,” she said.