Definition of mortgage belt in English:

mortgage belt

noun

Australian, NZ
  • An area in which many people are paying off a mortgage on their home, regarded as electorally volatile.

    ‘the suburb consists of new mortgage belts and million-dollar canal estates’
    ‘the election will be largely decided by voters in the mortgage belt’
    • ‘Many people even in the vital mortgage belt had probably not even fully registered that there was an election campaign under way.’
    • ‘Higher interest rates, a collapse of the consumer debt bubble, and an economic slump threaten to alienate his corporate backers as well as his electoral base in the so-called mortgage belt.’
    • ‘Makin is the classic mortgage belt seat that was so critical to the Howard Government's 1998 victory.’
    • ‘It is not just Sydney mortgage belts that would suffer if interest rates were to rise under a spend-to-please Labor administration.’
    • ‘The party's candidates in mortgage belt seats are edgy.’
    • ‘While voters in these so-called mortgage belt suburbs turned to Labor, few have any firm commitment to any party.’
    • ‘"Ease the squeeze" was not designed to appeal to the latte-sipping urbanites but to the suburban mortgage belt.’
    • ‘They targeted outer suburban "mortgage belt" electorates where house and land prices have soared so much over the past decade that even a small rise in interest rates would have devastating consequences for heavily-indebted working people.’
    • ‘He recognises interest rates and their effect on the mortgage belt as the lynchpin to his political survival.’
    • ‘He is justifying his leadership by holding a few media friendly community forums in mortgage belt seats before normal Parliamentary sittings resume next year.’