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More mortgage, less romance: Couples review their priorities
In its latest Home Loan Report, Mortgage Choice found that the value of loans to owner-occupiers and investors was up by 22 per cent and 31.4 per cent, respectively, over the December quarter.
Data showed the average loan size rose by 11 per cent year-on-year to $691,237 nationally, with South Australia and the Northern Territory seeing the fastest growth in loan size, up 14.4 per cent and 13.3 per cent year-on-year, respectively, followed by Queensland, up 13.3 per cent.
NSW and the ACT continued to be the priciest market, with an average loan size of $771,130, nearly $80,000 above the national average.
As loan sizes have increased, the survey found that the cost of mortgage repayments or saving for a deposit has affected the relationships of 62 per cent of respondents, with couples making more sacrifices.
Respondents said they had been reviewing their financial priorities, with 29 per cent staying in rather than going out on dates, 24 per cent reducing date nights, and 24 per cent spending less on birthday or anniversary gifts.
Similarly, couples reported that their mortgage affected their relationship, with 19 per cent experiencing stress from money worries, 13 per cent taking on extra work to manage repayments, and 12 per cent having more disagreements about finances.
Mortgage Choice CEO Anthony Waldron said that in 2025, the cash rate was cut three times before the RBA paused at 3.60, while wage growth slowed and national home prices surged nearly 9 per cent over the year.
“So, I think it’s understandable that more Australians would be looking to their paychecks, property prices, and availability to feel more confident about their purchase plans,” Waldron said.
Despite cutting back on activities, the survey found that respondents, whether single or in a relationship, were prepared for rate hikes, with nearly 60 per cent keeping their repayments at the higher level to pay off their loan faster.
In total, 35 per cent said they could handle it easily without changing their spending, while 43 per cent of respondent said they could manage but would need to cut back on their discretionary spending.
Only 13 per cent of borrowers said they would struggle to meet their home loan repayments and would need to dip into their savings if their interest rate rose by 25 basis points.
The single tax
While couples have been sharing the mortgage repayment load, the survey found that singles have felt disadvantaged in the current market.
In total, 47 per cent of singles felt that being in a couple was the only way to afford a property, and only 29 per cent were confident they could buy on a single income.
54 per cent of prospective buyers feel priced out of the market due to being single, with the impact even greater among single Millennials, 70 per cent of whom reported the same.
Waldron said the “single tax” has left a generation of singles feeling left out of the property market.
“Our survey has revealed that Australians attempting to navigate the market solo are feeling defeated, and those in a relationship have admitted to making financial sacrifices to keep their home loan and property goals on track,” Waldron said.
Sentiment remains high
Despite dwelling prices rising, forcing Australians to take out larger mortgages, the survey found that determination remained high in 2026.
Waldron said that even amid economic uncertainty and further potential rate hikes, Australians remained determined to pursue property ownership, with 42 per cent of respondents planning to buy within the next 12 months.
Among those planning to buy property in the next 12 months, 42 per cent intend to purchase alone, 53 per cent with a partner, 4 per cent with family, and 1 per cent with another party.
In total, 40 per cent of prospective buyers plan to split their mortgage repayment evenly, while 18 per cent plan to split based on income, with the higher earner paying a larger share.
The survey also found that 47 per cent of prospective buyers plan to split upfront purchase costs, such as the deposit and stamp duty, fifty-fifty.
