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Canstar’s ninth Consumer Pulse Report, based on a survey of over 2,000 Australians, has shown that mortgage and rent costs remain the biggest financial worry for households, with 21% citing them as their top concern for the year ahead.
This marks the fourth consecutive year that housing costs have topped the list, and the sentiment has strengthened over time. According to Canstar’s Consumer Pulse Report, concern over the cost of keeping a roof overhead is now more than double what it was five years ago.
Despite some relief for borrowers following three cuts to the cash rate this year, Canstar data insights director Sally Tindall said that this “simply hasn’t been enough” for many households.
“Housing remains the nation’s top financial concern. Whether it’s mortgage repayments or rents, the meteoric rise in what is, for most people, their biggest expense has been incredibly difficult to shoulder.”
With all four major banks expecting the Reserve Bank of Australia to either hold or hike the interest rate, it's unlikely property concerns will abate in 2026.
This property pressure has caused shifts in the market. According to the survey, 26% of property owners are considering selling within the next two years, and while downsizing and upgrading are the main reasons, 19% of the people considering selling are doing so because they cannot afford higher loan repayments, up from 16% the year before.
When it comes to buying, nearly two-fifths of Australians worry that the revised Home Guarantee Scheme (5% deposit for first home buyers) will either push up prices (27%) or increase market competition (12%), with only 15% viewing it as genuinely helpful for first-time buyers.
Other financial pressures are still significant. The price of groceries was cited as the second biggest worry, by 18% of Australians, followed by energy prices (10%), which, when the report was first published in 2017, was by far the most common financial worry at 30%. The cost of insurance was the largest concern for 7% of respondents, and 6% pointed to house price movements.
The report has also found that just 31% were feeling optimistic about the financial outlook for the year ahead, while almost half (49%) didn’t expect a pay rise.
Despite financial pressure, Australians are still saving. 68% are actively putting money aside regularly, with the average amount saved per month rising by $211 or 38%. They are also saving a greater amount. The average stashed away each month has surged to $769, up from $558 in 2024. 14% of respondents said the major expense that they are saving for was to buy a house, the second most important goal after saving for a holiday.
[Related: Qld government launches shared equity home ownership scheme]