Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Higher interest rates matter in Wentworth.



Download PDFDownload PDF

Higher interest rates matter in Wentworth

Tuesday, September 21, 2004

Wentworth residents pay amongst the highest mortgage repayments in Australia according to an interest rate analysis released today by Liberal Candidate for Wentworth Malcolm Turnbull.

“According to research by the Commonwealth Parliamentary Library, homeowners in Wentworth have on average the third highest mortgage repayments of any electorate in Australia at 1,767 per month”.

A summary of the research by electorate is attached, including a breakdown of median mortgage repayments for each of the suburbs in Wentworth sourced from the Australian Bureau of Statistics.

“The figures are sourced from 2001, and consequently understate the current situation. As we all know many families and residents will be paying far more than the amounts noted in these tables today” Mr Turnbull said.

“Whether it is in Waverley and Bronte in the south, Bondi in the east, Dover Heights and Vaucluse in the north or towards the city in Paddington, homeowners in Wentworth are already making significant financial sacrifices to ensure they can live in the area they love.”

“We need to do everything we can to ensure that home loan interest rates remain as low as possible so residents and families can continue to enjoy the great lifestyle available here in the eastern suburbs”.

“Since 1996, under the Howard Government home loan interest rates have averaged at 7.15%, compared to an average of 12.75% under the 13 years of the previous Labor Government.”

“For an average $200,000 mortgage this represents an extra $960 per month in higher interest repayments“ said Malcolm Turnbull.

“That is why I am pleased to be part of John Howard’s team.”

“It is John Howard’s Government that has delivered lower home loan interest rates for residents and families living in Wentworth. And as a member John Howard’s Liberal team I am seeking the support of residents and families in Wentworth so we can re-elect the Howard Government to keep our economy strong and keep home loan interest rates low.”

ENDS

Authorised by S. Hughes, Level 1, 5a Bronte Rd, Bondi Junction NSW 2022