While record low interest rates have kept mortgage serviceability under control, unfortunately the 30% of Australian’s who are renters are being squeezed by rising rentals.
With the recent release of the 2016 Census data there will be lots of commentary coming out in the next few weeks.
Last week the Australian Financial Review created some intersting graphics showing the increasing levels of rental stress around Australia.
Rising rents, which are prompting a greater proportion of adult children to stay, or move back home, boosted the proportion of all households spending 30 per cent or more of their household income on rent – one accepted measure of housing stress – up to 11.5 per cent from 10.4 per cent in 2011.
As you can see from the graphic below the percentage of Australians who are renting has risen in all capital cities other than Perth during the last 5 year Census period:
Source: Census Data The Australian Financial Review
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