when I checked the demographics of some suburbs around Melb...

when I checked the demographics of some suburbs around Melb recently....Toorak has 40% outright ownership....there is no mortgage...the other 1/2 doz suburbs out west etc all had 30% with no mortgages, and around 20-30% with mortgages and the balance were renters

heres an example...Melton out west, low priced houses, mortgages were high here at 37%, owners were 34%

http://www.myrp.com.au/viewFreeReport.do?statevalue=VIC&showvFields=false&state=VIC&partnerId=1&scaptcha_response_field=by5rg&actionTarget=viewFreeReport&productId=1&widget=true&step=getRecommend&viewer=partner&y=17&x=111&suburb=Melton&street=&street_temp=&streetExt=&streetDir=&postcode=3337&email=&fsrName=&widget=true