Housing Expenses Lead Australians' Financial Worries in 2026

Millennials are particularly affected, with monthly repayments on a $600,000, 30-year home loan taken out before the Reserve Bank's tightening cycle now averaging around $3,734-a 50% increase since May 2022. Renters are also feeling the strain, especially among Generation Z, with average weekly rent hikes of $62 reported.

Beyond housing, grocery prices remain a significant concern, cited by 18% of households. The average weekly grocery bill has risen to $202, with 93% attributing the increase to higher prices rather than increased consumption. Additionally, electricity and gas bills continue to burden Australians, with the average quarterly electricity bill rising by $68 to $439 in 2025.

These escalating costs highlight the need for effective financial management strategies. For those juggling multiple debts, considering the option of debt consolidation loans could potentially offer a means to simplify repayments and potentially reduce overall interest expenses, providing some relief amid rising living costs.