News

Proportion of Aussie renters up to around one-third

18 July 2019

The proportion of Aussie households that are renting has risen to nearly one-third in 2017-18.

The figures come from the Australian Bureau of Statistics and are a rise from around 27 per cent back in 1997-98.

Over that 20-year period, rentals from private landlords rose while rentals from public housing fell.

“Most of the increase in renter households was in the private rental market,” ABS chief economist Bruce Hockman told Property Observer.

“Some of the decrease in public housing numbers can be attributed to recent trends in social housing provision which have seen the community housing sector taking on an increasingly prominent role.”

The figures also showed that the proportion of households that own their own home has fallen to 66 per cent, which was sitting up around the 70 per cent mark 20 years ago.

Other interesting results showed the proportion of households owning their home without a mortgage has fallen while at the same time, those owning their home with a mortgage has risen.

In terms of Australian households that own one or more properties other than the one they live in, that figure sits at around 20 per cent.

The ABS data shows that renters spend a greater proportion of their income on their housing than homeowners.

Renters, on average, are paying 20 per cent of their income on housing costs compared to 16 per cent for owners with a mortgage.

Latest

The best thing you might want to do if investing in commercial property is assemble a ‘dream team’ of experienced operators that understand the process and understand why you are investing.

Read more

Mortgage Professional Australia has announced that Perry Finance Director and Melbourne Finance & Equity Group CEO Cameron Perry is one of MPA’s Top Ranked Commercial Brokers of 2022.

Read more

Prospective home buyers and investors are being warned to temper their expectations as the dust settles on the Reserve Bank’s first interest rate rise in years.

Read more

The Reserve Bank this week pulled the trigger on interest rates as expected, hiking the official cash rate by 25 basis points to 0.35 per cent.

Read more