Housing Affordability (Australia)
Housing affordability is Australia continues to grow out of reach of the average Australian, especially in major cities like Sydney and Melbourne.
This topic gives a overview of the current housing affordability situation and discusses possible solutions, government initiatives and other Pro's and Con's to curbing affordability growth.
The newly released annual Demographia report on housing affordability has found - once again - that Australia has some of the least affordable housing markets in the world. Sydney was ranked as the second-least-affordable housing market behind Hong Kong.
It may not hit the boomtime peaks of 2013, but a survey of property analysts shows most are predicting solid growth in the price of houses in 2017. It's a different story for apartments, and indeed for all property in "gloomtime" cities Perth and Darwin where analysts have consistently predicted more price falls.
Housing affordability is clearly improving in Sydney although the outlook for first home buyers remains bleak. Sydney's property owners have enjoyed another positive year overall for prices growth although results have been typically mixed between regions, price ranges and dwelling types.
A parliamentary inquiry established nearly two years ago to investigate housing affordability has made no recommendations, drawing strong criticism from the Opposition.
Dr Matthew Thomas, Social Policy and Alicia Hall, Statistics and Mapping Key Issue The high cost of housing in Australia has been at the forefront of a range of recent policy debates concerning Australia's taxation arrangements. This brief examineshousing affordability in Australia for both owners and renters over recent decades.