Home loans customers 'keeping ratios down'

Aussie home loans customers are taking steps to keep their loan-to-value ratios down as the cautious approach of consumers to debt and credit continues.

Figures from the Australian Finance Group revealed the national average was 64.2 per cent, the lowest seen over the last six months.

The average mortgage taken out by those hoping to purchase a property declined in June month-on-month.

Only New South Wales and Western Australia bucked this trend, with home loans increasing by 0.5 per cent and 3.3 per cent respectively.

Last month, the figures showed that the average size of a home loan in Australia was $384,042, which represents a 1.1 per cent drop on the May levels.

New South Wales was the most expensive place to purchase a property, with the average home loan rising to $455,559.

This comes after the Economist's Intelligence Unit revealed that the day-to-day costs faced by those living in Sydney and Melbourne are the sixth and seventh highest in the world respectively.

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