"Sorry for bringing you the tolly irrelevant information about the bank with one of the largest mortage books in the country saddled with 42% of speculator loans."
As of Dec 2011 there were roughly 8.4M households in Australia.
Of that, 2.7M or 32.6% had no mortgage. A further 270K or 3.9% lived in govt assisted housing leaving roughly 5.39M homes with debt attached.
36.2% or over 3M homes have mortgages. 23.7% of homes rent which is almost 2M homes. So of the homes with mortages, 36% are renters.
The question is, why are you suprised that Westpac has 42%. Why is this bad?
Considering the big 4 have about 90% of the home loans, by definition one of the other big 4 must have less than the 36% represented in the national average.
