But new data reveals gradual shift in household financial pressures
Mortgage holders across Australia continue to prioritise debt repayment, but new data suggests the intensity of this focus is beginning to soften.
According to Agile Market Intelligence’s Consumer Pulse survey, which monitors the financial attitudes of around 1,500 Australians each month, the proportion of mortgage holders who cite debt repayment as their top priority fell to 63% in August, down from 66% in July. This marks the lowest level since March and signals a modest easing of financial strain for borrowers following the recent interest rate cut.
“Mortgage holders are still focused on reducing debt, but we’re starting to see signs of flexibility in their budgets,” said Michael Johnson, research director at Agile Market Intelligence. “With rate cuts on the horizon, many are cautiously shifting attention toward household costs.”
The Agile Market Intelligence survey also found that 11% of mortgage holders now place day-to-day expenses at the top of their financial priorities, up from 9% in July, while the proportion prioritising saving has remained stable at 26% for six months. These shifts indicate a gradual rebalancing of household budgets as economic conditions change.
Meanwhile, Australians with consumer debt demonstrated the most significant change in priorities. The share of this group focused on debt repayment dropped by six points, from 43% in July to 37% in August. Saving has now overtaken debt repayment as the leading priority for consumer debt holders, with 38% identifying it as their main focus.
“We’re seeing a turning point among consumer debt holders,” Johnson said. “Saving is now just as important as paying off debt, which suggests a growing sense of financial control, or at least the intent to get ahead.”
For debt-free Australians, saving remains the dominant goal. In August, 62% of those without mortgage or consumer debt said saving was their top priority, up from 56% in July, while the proportion focused on daily expenses fell to 37%.
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