National mortgage repayment bill increases by over 100 per cent in past year

The national mortgage repayment bill has increased by more than 100 per cent in the past year – heaping additional pressure onto homeowners. It has risen from $11 billion to more than $22 billion, following 12 rate rises by the RBA. In comparison, the national spending on rent has risen from $18 to $19 billion. Economists are mixed on who is worse off, some saying discussion around more renter rights was further scaring off investors and neglecting those suffering the most financially.