Australian household debt hits another record high

Wednesday 2 October 2019

The Reserve Bank of Australia (RBA) has released its debt ratios for the June quarter, which revealed that Australian households’ debt loads have hit another all-time high.

The ratio of household debt to disposable income hit a record high 191.1% in June, with mortgage debt to income a record high 140.4%:

However, mortgage debt retraced slightly to 94.1% of GDP in the June quarter:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.