When the Australian Bureau of Statistics released it’s Housing Occupancy and Costs data last year they produced this smart chart showing where Australians lived in 2011-12.
Business Insider summarised the findings as follows:
Home ownership fell from 71% to 67% between 1994-95 and 2011-12, and fewer Australian households owned their homes outright, down to 31% from 42%.
Outright homeowners spend an average of $40 a week on housing, which is about 3% of their income.
Renters spend an average of $347 a week on housing, while mortgagees spend $432 a week.
The proportions of households with a mortgage and private renters each jumped 7% to 37% and 25% respectively.
The ABS reports that housing costs for mortgagees and renters have remained flat at about 20% of household income since 1994-95.
“The decline in outright home ownership may, in part, reflect increasing uptake of flexible low-cost financing options which allow households to extend their existing home mortgages for purposes other than the original home purchase,” the ABS suggests.
More than three-quarters of households have more bedrooms than they need, the data reveals.
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