The debt pile
The ratio of household debt to annualised disposable income increased to 1.86x in 2021, a little below the levels seen in 2019.
Of course, net of offset accounts (not to mention deposits) net debt ratios are far lower than previously was the case.
Household interest payments fell to the lowest level on record, across a data series running back to before Star Wars was released...in 1977.
With mortgage rates now rising, and the cash rate expected to rise forthwith, interest repayments will obviously begin to climb from here.
It's also worth noting that the graph takes no account of principal repayments.
Still, the Reserve Bank's assets and liabilities chart shows that overall households are in decent nick.
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Election fever is set to hit the screens over the coming long six weeks, with the Federal Election date called for May 21.
