The Australian Housing Market Summed Up In One Chart

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.

Australian Housing Market

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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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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