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Jun 22, 2012

Rents and mortgages squeeze incomes: Census 2011

Data just released from the 2011 Census confirm what we already know: that rents and mortgages in Australia have grown faster than incomes, squeezing household budgets.

“The Census shows that housing costs in Australia have outstripped income growth, with the median mortgage repayment increasing 39 per cent and the median rent increasing 49 per cent. By comparison the median household income increased just 20 per cent between 2006 and 2011” said Australians for Affordable Housing campaign manager Sarah Toohey.

“As the single biggest household expense, increases in the cost of rents and mortgages put pressure on every other item of household spending.”

“Rents have risen much faster than even mortgage repayments. This makes it harder for people who are renting to save for a home, and for or low income households who are renting, it’s harder than ever to make ends meet.”

“The Census also shows an increase in the percentage of households in the rental market, and a decrease in people who own their homes outright. This is a worrying trend in the Australian housing market.

“If Governments don’t start to take housing affordability seriously, we’ll continue to see increasing numbers of people locked out of home ownership or burdened with a mortgage they can’t afford.”

“We need all levels of government to work together on a National Housing Plan to deliver housing that’s affordable for all Australians.

% change in median income, rent and mortgage repayment 2006-2011

Household income Median rent
2006-2011
Median mortgage repayment
Sydney 23% 42% 20%
New South Wales – rural and regional 21% 38% 30%
Melbourne 22% 50% 39%
Victoria-rural and regional 17% 32% 30%
Brisbane 25% 48% 50%
Queensland -rural and regional 15% 42% 44%
Perth 34% 78% 54%
Western Australia -rural and regional 21% 48% 55%
Adelaide d      
South Australia -rural and regional 16% 35% 41%
Hobart 18% 57% 47%
Tasmania – rural and regional 17% 44% 41%
Canberra 32% 46% 44%
Darwin 40% 80% 67%

  • Sabastian

    Hi Sarah, Japan and HongKong have much more populations and much less land to live on,but still Australia is insanely equal to them in housing stress? This is the single and biggest problem that all Australians should be worried about and help motivate each other to fix this shameful problem very soon.
    Thanks
    Sabastian

  • Merisaflc

    There are many different aspects that driven the Australian Housing Affordability impossible, such as foriegners’ investment in housing, Nagetive gearing tax incentive, first home owner grants companies, businesses or coperations self-regulating policies and may more factors that carefully designed ang imposed to benefit the rich but not the low income families or individuals.

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