Mortgage repayments and home running costs, 2022 versus 2026
On an $800,000 home loan, the monthly repayment at the average rate has gone from $3,261.69 in May 2022 to an estimated $5,156.92 now, counting the cash rate rises of 30 September 2026 and 4 November 2026. That one line outweighs the rise in electricity and water combined. Every figure below comes from the Reserve Bank, a regulator, a utility or a published fuel price report, with the source linked, and we say plainly what could not be compared.
The average rate on owner-occupier principal-and-interest loans was 2.74% in May 2022, by the Reserve Bank's figures. Adding the September and November 2026 cash rate rises to its latest figure (6.19% in August 2026) puts it at an estimated 6.69% now. On a new $800,000, 30-year loan that is $3,261.69 a month against about $5,156.92, $1,895.23 more. Regulated electricity reference prices rose $371 to $516 a year across New South Wales and south-east Queensland networks, and a Brisbane water bill rose $242.
Key statistics
- Cash rate, May 2022 to now
- 0.35% to 4.85%
- Average owner-occupier rate2
- 2.74% to 6.69%
- $800,000 loan, a month1
- +$1,895
- Brisbane water, a year
- +$242
1 A new 30-year principal-and-interest loan at each rate shown, not what an existing borrower pays. 2 Estimated current rate: the Reserve Bank's August 2026 average (6.19%, the latest published) plus the cash rate rises on 30 September 2026 and 4 November 2026 (0.5 points), assuming lenders passed both on in full. Fixed-rate loans move only when they roll off.
Mortgage repayments at the average rate, 2022 and 2026
The Reserve Bank's cash rate target was 0.35% from 4 May 2022 and is 4.85% from 4 November 2026, 4.5 percentage points higher. What households pay is the lending rate, which moved less: the average rate on outstanding owner-occupier principal-and-interest loans went from 2.74% in May 2022 to 6.19% in August 2026, up 3.45 points.
| Loan1 | May 2022 (2.74%) | August 2026 (6.19%) | Now, estimated (6.69%)2 | Change to now, a month | A year |
|---|---|---|---|---|---|
| $500,000 | $2,038.56 | $3,059.10 | $3,223.07 | +$1,184.51 | +$14,214 |
| $600,000 | $2,446.27 | $3,670.92 | $3,867.69 | +$1,421.42 | +$17,057 |
| $800,000 | $3,261.69 | $4,894.56 | $5,156.92 | +$1,895.23 | +$22,743 |
| $1,000,000 | $4,077.12 | $6,118.20 | $6,446.15 | +$2,369.03 | +$28,428 |
Those are the averages. See what the suburbs on your shortlist cost to run in 2026-27 →
1 A new 30-year principal-and-interest loan at each rate shown, not what an existing borrower pays. 2 Estimated current rate: the Reserve Bank's August 2026 average (6.19%, the latest published) plus the cash rate rises on 30 September 2026 and 4 November 2026 (0.5 points), assuming lenders passed both on in full. Fixed-rate loans move only when they roll off.
Each repayment is worked out fresh, as if the loan were new at that date's average rate. It is not what an existing borrower pays: four years in, their balance is lower and their term shorter, and borrowers on fixed rates moved to higher rates at different times.
The August 2026 average is the latest the Reserve Bank has published. The cash rate has risen twice since, on 30 September 2026 and 4 November 2026, 0.5 points in all, so the current column adds those rises to the August 2026 rate. That assumes lenders passed both on in full, which adds about $262 a month on $800,000. The Reserve Bank's next lending-rate release will show what actually happened.
Electricity reference prices, 2022-23 and 2026-27
The regulated default offers are the benchmark retailers must quote against. In New South Wales and south-east Queensland that is the AER's Default Market Offer; in Victoria it is the Essential Services Commission's Victorian Default Offer. The four networks are priced at the same annual usage in both years.
| Network | Usage | 2022-23 | 2026-27 | Change | Change, % |
|---|---|---|---|---|---|
| Energex (south-east Queensland) | 4,613 kWh | $1,620 | $1,991 | +$371 | +22.9% |
| Ausgrid (Sydney) | 3,911 kWh | $1,512 | $1,903 | +$391 | +25.9% |
| Endeavour (western Sydney) | 4,913 kWh | $1,836 | $2,333 | +$497 | +27.1% |
| Essential Energy (regional NSW) | 4,613 kWh | $2,092 | $2,608 | +$516 | +24.7% |
| Victoria, Victorian Default Offer average | See note | $1,403 | $1,591 | +$188 | +13.4% |
Victoria has an electricity comparison only. There is no comparable Melbourne water figure, so Victoria is not in the combined Brisbane and Sydney table below.
The 2022-23 prices are the AER's 2023-24 final prices less the year-on-year rises it published with them. The 2026-27 prices apply the AER's 2026-27 tariff caps to the same usage. The Essential Services Commission's 2026-27 Victorian average assumes 4,000 kWh a year; its 2021-22 annual report gives the 2022-23 average without restating the usage.
These are reference prices, not average bills. Most households are on market offers instead; in Victoria the Essential Services Commission puts about 17 per cent of households on the default offer. None of the figures includes government bill rebates, concessions or solar. Regional Queensland outside the Energex area has separate regulated prices and is not shown.
Water and sewerage bills, 2022-23 and 2026-27
Two utilities where both years' published charges can be priced the same way, at 200 kilolitres a year for a house.
| Utility | 2022-23 | 2026-27 | Change | Change, % |
|---|---|---|---|---|
| Brisbane (Urban Utilities) | $1,658.07 | $1,899.96 | +$241.89 | +14.6% |
| Sydney Water | $1,217.94 | $1,661.11 | +$443.17 | +36.4% |
Brisbane is Urban Utilities' water service charge, its Brisbane sewerage charge and tier one usage including the state bulk water charge; other councils Urban Utilities serves pay a different sewerage charge. Sydney is Sydney Water's water, wastewater and standalone-house stormwater charges plus usage; some properties do not pay stormwater. Melbourne is not shown because the published bills for the two years assume different usage.
Petrol for a weekday commute, May 2022 and October 2026
Average regular unleaded in the three largest cities, and what it adds up to for one car driving 20 km each way, 3 days a week for 48 weeks, at 8 litres per 100 km. That is 5,760 km and about 461 litres a year.
| City | Week ended 22 May 20223 | 28 October 2026 | Change a litre | Commute fuel, 2022 | Commute fuel, 2026 | Change |
|---|---|---|---|---|---|---|
| Brisbane | 206.9c | 236.4c | +29.5c (+14.3%) | $953 | $1,089 | +$136 |
| Sydney | 203.8c | 235.5c | +31.7c (+15.6%) | $939 | $1,085 | +$146 |
| Melbourne | 205.5c | 235.5c | +30.0c (+14.6%) | $947 | $1,085 | +$138 |
3 The May 2022 prices include the temporary halving of fuel excise to 22.1c a litre (from 44.2c), in force from 30 March 2022 to 28 September 2022. A weekly average is compared with a single day, so the figures are indicative. Fuel only: no servicing, tyres, registration or depreciation.
Read the rise with the excise in mind. In May 2022 excise on petrol was half its usual rate, a cut worth about 24.3c a litre once GST is included, against rises of 29.5c to 31.7c since. This year's temporary cut ended on 3 August 2026, so the October 2026 prices carry the full rate. If the 2022 cut reached the pump in full, it accounts for most of the difference. Refined fuel prices and the dollar move retail prices too, and petrol in these cities runs in price cycles, so a different week could give a different answer.
This is a petrol-only figure for one car. It is not SuburbCost's driving cost, which uses the ATO cents-per-kilometre rate and covers the whole cost of running the car, so do not add the two together. Petrol is kept out of the combined table below for the same reason. Our 2026 fuel price study tracks the year's prices in more detail.
The three lines together, Brisbane and Sydney
Adding the $800,000 mortgage example, the default electricity price and water for one house in each city. These are three verified lines, not a household's total costs.
| City | 2022 | 2026 | Change | Share of change from the mortgage |
|---|---|---|---|---|
| Brisbane | $42,418 | $65,774 | +$23,356 | 97% |
| Sydney | $41,870 | $65,447 | +$23,577 | 96% |
Brisbane and Sydney only; Melbourne has no comparable water figure. Not a household's total costs: council rates, insurance, the commute and day-to-day spending are not included, and the petrol scenario above is kept separate. The mortgage line uses the $800,000 example above1 at the estimated current rate2.
What this comparison leaves out
- Council rates. No matched 2022 series has been built for the suburbs SuburbCost covers. Each suburb's 2026-27 rates are on its suburb page.
- Home insurance. No verified like-for-like 2022 premium series exists for these areas.
- The full cost of the commute. SuburbCost models driving at the ATO cents-per-kilometre rate, and the 2022 rates could not be checked at source for this article. The petrol section covers fuel only.
- Property prices. SuburbCost publishes none.
- Cause. This compares two dates. It makes no claim about who or what moved each price.
Sources
- Cash rate target: Reserve Bank of Australia, cash rate target.
- Lending rates: Reserve Bank of Australia, F6 Housing Lending Rates, outstanding owner-occupier principal-and-interest loans.
- 2022-23 electricity: AER, final determination for the 2023-24 Default Market Offer. 2026-27: the AER's 2026-27 Default Market Offer tariff caps, the same figures behind every SuburbCost electricity estimate.
- Victoria: Essential Services Commission, Annual Report 2021-22 and Essential Services Commission, 2026-27 Victorian Default Offer.
- Brisbane water: Urban Utilities 2022-23 charges and 2026-27 charges.
- Sydney water: Sydney Water Annual Report 2022-23, IPART pricing table and Sydney Water residential pricing 2026-27.
- Petrol, 2022: Australian Institute of Petroleum, Weekly Petrol Prices Report, week ended 22 May 2022, metropolitan averages (page 7, archived copy; AIP no longer hosts it). 2026: ACCC, weekly fuel price monitoring report, 30 October 2026, Table 3.
- Fuel excise: Budget Paper No. 2 2022-23 (the 2022 halving) and Excise Tariff Amendment (Cost of Living Support) Act 2022 (its end date). The 2026 dates are from the ACCC report above.
Every figure was checked against these pages on 4 November 2026. All values are nominal. Download every figure with its source as a CSV.
Frequently asked questions
How much have mortgage repayments gone up since 2022?
On a new $800,000, 30-year principal-and-interest loan, from $3,261.69 a month at 2.74% (the average outstanding owner-occupier rate in May 2022) to about $5,156.92 at an estimated 6.69% now, an increase of about $1,895.23 a month or $22,743 a year. The current rate is the Reserve Bank's latest average (6.19%, August 2026) plus the cash rate rises since, assuming lenders passed them on in full. This is an illustration, not what any one borrower pays: an existing loan has a smaller balance and fewer years left, and fixed-rate borrowers moved at different times.
How much has the cash rate risen since May 2022?
The Reserve Bank's cash rate target was 0.35% from 4 May 2022 and is 4.85% from 4 November 2026, 4.5 percentage points higher. The average outstanding owner-occupier lending rate rose 3.45 points over a similar period, because lending rates do not move one for one with the cash rate.
Is the 2026 mortgage rate current?
It is an estimate. The Reserve Bank's latest published average is 6.19% for August 2026, before the cash rate rises on 30 September 2026 and 4 November 2026. Adding those 0.5 points gives 6.69%, which assumes lenders passed both on in full to every variable-rate borrower. On the August 2026 figure alone the $800,000 repayment is $4,894.56; the estimate adds about $262 a month. The Reserve Bank's next lending-rate release will show what actually happened.
How much have electricity prices risen since 2022?
On the regulators' reference prices for a household without controlled load, by $371 (Energex (south-east Queensland)) to $516 (Essential Energy (regional NSW)) a year between 2022-23 and 2026-27, at the same usage. The Victorian Default Offer average rose $188, from $1,403 to $1,591. These are default offer benchmarks, not average bills, and they leave out rebates, concessions and solar.
How much has petrol gone up since May 2022?
Metropolitan regular unleaded rose 29.5c to 31.7c a litre between the week ended 22 May 2022 and 28 October 2026, for example from 206.9c to 236.4c in Brisbane. On a 20 km commute three days a week in a car using 8 litres per 100 km, that is about $136 to $146 more a year. Most of the rise lines up with excise: in May 2022 it was halved to 22.1c a litre, worth about 24.3c with GST, and in October 2026 the full rate applied. A weekly average is compared with a single day, so treat the figures as indicative.
Are council rates and insurance included?
No. There is no matched 2022 series for council rates or building insurance that we could verify, so neither is compared. SuburbCost shows each suburb's 2026-27 rates and estimated insurance on its suburb page and in the free report.
Does this say who caused the increases?
No. It compares two dates. The cash rate is set by the Reserve Bank, electricity reference prices by the AER and the Essential Services Commission, and water prices under state regulators, and wholesale energy and inflation moved over the same period.
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