ING Newsroom

Australians’ growing property debt in retirement calls for super planning

Published on 22/06/2016

Data from ING DIRECT reveals that Australians are increasingly taking property debt into their retirement years, with the number of over 65 year olds still holding a mortgage rising by 28 per cent in the past three years.

Of those in their retirement years that still have a mortgage, 26 per cent hold an investor loan while 74 per cent are owner occupiers. The average debt they are holding is $158,000.

Mark Woolnough, Head of Third Party Distribution at ING DIRECT commented: “As property prices climb and people wait longer to get onto the property ladder, it’s not a surprise that people are holding their home loan debt later in life.  However, proper planning is critical to make sure that this debt doesn’t cause stress in later years and people can enjoy the retirement they have worked hard for.”

According to ING DIRECT’s Autumn Buyers Guide, since June 2012 the average capital city residential property has increased in value by 32 per cent, with growth of 7.6 per cent in the past 12 months alone. The average age of a home buyer has also risen in recent years to 38.

Mr Woolnough added:  “We talk about superannuation and property as the barbells of a person’s financial lifecycle – in most cases they are the two biggest investments that a person will ever make.

“Research has shown us that people are very open to discussing broader financial needs when they are sourcing a mortgage, such as their superannuation, and brokers are in a great position to encourage and support their clients to consider and sort their super in light of this growing property debt trend.”

To support brokers in assisting their clients with this growing trend, ING DIRECT added the Living Super superannuation product to it Broker Referral Program in 2015.  For more information about ING DIRECT’s Broker Referral Program please contact your ING DIRECT representative.


The analysis is based on ING DIRECT’s own customer base. ‘Retirement years’ considers those customers aged between 65 and 79.  ING DIRECT’s Autumn Buyers Guide is available here.

Media contact
Kristen Costandi
T: +61 2 9018 5160
M: +61 413 317 225

ING DIRECT changed the way Australians bank 17 years ago by launching the country’s first high interest, fee free online savings account. Since then, we’ve brought this low fee value to home loans, transactional banking and superannuation.

With over 1.6 million customers – and $34 billion in savings and $40 billion in mortgages – ING DIRECT has the highest Net Promoter Score of any bank.

Australia’s most recommended bank.
Source: Nielsen Consumer & Media View Jul ’15 – Dec ’15 (n=9,552) when compared by customers of 14 other banks operating in Australia.

The Trust Company [Superannuation) Limited ABN 49 006 421 638, AFSL 235153, RSE L0000635, is the Trustee of the ING DIRECT Superannuation Fund ABN 13 355 603 448 (Fund) and the issuer of interests in the Fund.  ING DIRECT Living Super is a product issued out of the Fund. ING DIRECT, a division of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823, is the Promoter of the Fund. Other products are issued by ING Bank (Australia) Limited.

Media Enquiries

David Breen
Head of Corporate Affairs
0412 933 060

Megan Landauro
Public Relations Manager
0413 317 225

60 Margaret Street
Sydney NSW 2000

© Copyright 2021 ING.
ING is a business name of ING Bank (Australia) Limited ABN 24 000 893 292 AFSL/ACL 229823.
ING’s colour orange is a trade mark of ING and the ING Group of companies.