The average mortgage in Melbourne is around the $270,000 mark. On saying that, I know people massively over borrow and get themselves in holes. They also purchase new cars,holidays, renovations that are not necessary (these are new houses we live in our area) and just add it to the mortgage, it's crazy

My DH would have a heart attack if we borrowed that much and we would never pay for a holiday using our mortgage! We are pretty conservative.