RDP 2019-06: The Effect of Mortgage Debt on Consumer Spending: Evidence from Household-level Data Appendix C: Summary Statistics
July 2019
- Download the Paper 1,513KB
| Variable | Indebted households | Non-indebted households | |||||
|---|---|---|---|---|---|---|---|
| Mean | Median | Std dev | Mean | Median | Std dev | ||
| Age group – young (%) | 4.3 | 0.2 | 0.5 | 0.1 | |||
| Age group – middle (%) | 40.6 | 0.5 | 11.6 | 0.3 | |||
| Age group – old (%) | 55.0 | 0.5 | 87.9 | 0.3 | |||
| Employed (%) | 70.9 | 0.5 | 42.7 | 0.5 | |||
| Unemployed (%) | 1.0 | 0.1 | 0.9 | 0.1 | |||
| Not in the labour force (%) | 28.1 | 0.4 | 56.4 | 0.5 | |||
| Casual worker (%) | 13.0 | 0.3 | 22.8 | 0.4 | |||
| Probability of losing job >0 | 50.6 | 0.5 | 45.8 | 0.5 | |||
| Became unemployed (%) | 0.9 | 0.1 | 0.7 | 0.1 | |||
| Marital status (%) | 72.3 | 0.4 | 62.3 | 0.5 | |||
| Number of adults | 2.1 | 2.0 | 0.9 | 1.9 | 2.0 | 0.9 | |
| Number of children | 0.6 | 0.0 | 0.9 | 0.2 | 0.0 | 0.6 | |
| Education – high school (%) | 37.5 | 0.5 | 43.9 | 0.5 | |||
| Education – TAFE/diploma (%) | 34.9 | 0.5 | 33.6 | 0.5 | |||
| Education – university (%) | 27.6 | 0.4 | 22.5 | 0.4 | |||
| Financial stress status (%) | 20.1 | 0.4 | 10.3 | 0.3 | |||
| Hand-to-mouth status (%) | 13.3 | 0.3 | 5.2 | 0.2 | |||
| Hand-to-mouth status (adjusted for prepayments) (%) | 5.5 | 0.2 | 4.7 | 0.2 | |||
| Behind mortgage repayments (%) | 24.6 | 0.4 | 3.0 | 0.2 | |||
| Gross household disposable income ($) | 96,995.6 | 88,296.4 | 70,005.1 | 77,190.9 | 57,426.6 | 71,452.9 | |
| Non-durables spending ($) | 38,881.3 | 33,746.1 | 27,675.4 | 32,901.7 | 27,055.4 | 28,778.6 | |
| Durables spending ($) | 11,464.8 | 5,119.3 | 17,844.7 | 10,525.2 | 3,941.7 | 18,648.6 | |
| Total spending ($) | 50,346.1 | 42,343.7 | 36,859.1 | 43,426.9 | 33,662.2 | 39,154.9 | |
| Mortgage debt ($) | 226,211.6 | 184,370.0 | 218,166.1 | 39,223.9 | 0.0 | 184,283.4 | |
| Housing equity ($) | 405,601.0 | 317,879.4 | 416,202.9 | 646,730.0 | 520,801.0 | 557,539.7 | |
| Post-boom home purchase (share of home owners) (%) | 43.7 | 0.5 | 22.6 | 0.4 | |||
| Mortgage debt-to-income ratio (%) | 234.2 | 192.4 | 265.3 | 39.1 | 0.0 | 140.7 | |
| Mortgage debt-servicing ratio (%) | 39.7 | 35.8 | 31.7 | 6.2 | 0.0 | 21.7 | |
| Mortgage debt-to-assets ratio (%) | 17.3 | 11.9 | 24.4 | 1.5 | 0.0 | 10.5 | |
|
Notes: Levels expressed in 2017/18 dollars; the main sample of indebted households excludes non-indebted households in the previous year; both samples exclude the top and bottom 1 per cent of income, spending and housing price growth Sources: Authors' calculations; HILDA Survey Release 17.0 |
|||||||