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$9,584 a month: Suburbs feeling the most mortgage pain

A composite image of Australian currency and property in Sydney to demonstrate rising mortgage repayments.
Aussies could see their mortgage repayments jump by thousands of dollars a month. (Source: Getty)

The Reserve Bank of Australia (RBA) has hiked interest rates eight times this year - from a record-low 0.1 per cent to the current 3.1 per cent - sending mortgage repayments through the roof.

CoreLogic and Aussie Home Loans crunched the numbers of just how high monthly mortgage repayments could shift for borrowers across each capital city and rest-of-state regions, based on where the cash rate is forecast to go.

The Your Next Mortgage Move report revealed the numbers across the capitals and regions – unveiling how those who borrowed on the lowest fixed rates in May 2021 could see mortgage repayments shift almost $2,000 higher per month in Sydney.

Even in Australia’s most affordable capital city, monthly mortgage repayments in Darwin could shift $863 higher per month for borrowers under certain conditions, and those in Regional South Australia could be looking at increases around $590 per month.

Which suburbs will see the biggest mortgage increases?

In Sydney, those living in the Northern Beaches could see their repayments hit $9,584 per month - an increase of $3,528.

Those in the Baulkham Hills and Hawkesbury area could see their monthly repayments hit $7,223 per month - an increase of $2,659.

Sydney’s wealthy eastern suburbs area could see repayments hit $7,043, a rise of $2,593 per month.

For the rest of Greater Sydney, here is how much monthly repayments could rise:

  • Blacktown - $3,706, up $1,364

  • City and Inner South - $4,845 , up $1,784

  • Inner South West - $4,527, up $1,666

  • Inner West - $5,799, up $2,135

  • North Sydney and Hornsby - $6,828, up $2,514

  • Outer South West - $3,332, up $1,227

  • Outer West and Blue Mountains - $3,488, up $1,284

  • Parramatta - $3,935, up $1,449

  • Ryde - $6,716, up $2,473

  • South West - $3,827, up $1,409

  • Sutherland - $5,977, up $2,200

In Melbourne, here is how much monthly repayments could rise:

  • Inner Melbourne - $3,029, up $1,115

  • Inner East - $5,928, up $2,182

  • Inner South - $4,980, up $1,833

  • North East - $3,371, up $1,241

  • North West - $3,099, up $1,141

  • Outer East - $4,051, up $1,491

  • South East - $3,340, up $1,230

  • West Melbourne -$2,907, up $1,070

  • Mornington Peninsula - $3,729, up $1,373

In Brisbane, here is how much monthly repayments could rise:

  • East Brisbane - $3,083, up $1,135

  • North Brisbane - $3,079, up $1,133

  • South Brisbane - $3,427, up $1,262

  • West Brisbane - $3,671, up $1,352

  • Inner City - $3,044, up $1,121

  • Ipswich - $1,822, up $671

  • Logan - Beaudesert - $2,035, up $749

  • Moreton Bay - North - $2,316, up $853

  • Moreton Bay - South - $2,662, up $98

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