Housing Affordability Report

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Housing Affordability Report"

Transcription

1 Housing Affordability Report MARCH QUARTER Housing affordability improves on the back of falling interest rates as loan sizes rise and incomes stall The first quarter of showed an improvement in housing affordability nationally with the proportion of income required to meet loan decreasing by.7 percentage points to.8%. Compared to the corresponding quarter of, the figure increased by.2 percentage points. When compared to the last quarter, all states and territories saw housing affordability improving with the exception of South Australia where the proportion increased by.6 percentage points. The Northern Territory showed the greatest improvement with the proportion of income required to meet loan going down 2.8 percentage points, to.3%. Over the quarter, New South Wales once again remained the least affordable state for home with the proportion of income required to meet loan 4.2 percentage points above the national average. The Australian Capital Territory is still the most affordable state or territory in which to buy a home with the figure sitting at 19.7%. Compared to the March quarter of, housing affordability improved in Queensland, Western Australia, the Northern Territory and the Australian Capital Territory. As with the quarterly change, South Australia saw the worst annual decline with the proportion of income required to meet loan rising by 1. percentage point. During the first quarter of, the Reserve Bank of Australia (RBA) introduced a basis points cut the official cash rate bringing the figure to the historically low level of 2.%. The gap between variable and three fixed rates remained at.7 percentage points. The quarterly average variable standard interest rate decreased.3 percentage points over the quarter and also when compared to the corresponding quarter last, to 5.3%. The quarterly average three fixed rate fell.3 percentage points to 4.6% during the quarter and also.5 percentage points when compared to a earlier. The average loan size to first home increased 2.% over the March quarter and by 4.6% compared to the same time last, to $323,8. Over the quarter, the average loan size to first home increased in all the states and territories with Tasmania being the only state to record a decrease. The largest jump was seen in the Northern Territory. Compared to twelve months ago, Tasmania and the Australian Capital Territory were the only jurisdictions to record drops in the average size of a loan to first home while the figure increased 8.3% in South Australia. The total number of loans (excluding decreased 12.8% over the quarter and also 2.4% compared to the March quarter of, to 93,72. Over the quarter, all states and territories had decreases with the biggest drop recorded in the Northern Territory, down by.1%. Compared to the corresponding quarter of the previous, the number of loans increased in New South Wales, Victoria and the Australian Capital Territory while the figure fell 11.9% in Western Australia. Over the first quarter of, the average loan size increased 1.%, to $358,933. This represents an increase of 6.4% compared to a earlier. Over the quarter, with the exception of the Northern Territory, all states and territories recorded increases in the average loan size with South Australia having the biggest jumps, up by 4.7%. Compared to the March quarter of the previous, the biggest increase in the average loan size was recorded in South Australia, up by.3% while the figure for the Northern Territory went down by 1.%. Over the quarter, the number of first home decreased 15.7% to 22,182 a slight increase of.5% compared to the figure of twelve months ago. First home now make up 14.9% of the owneroccupier market the figure is significantly smaller relative to the longrun average of 19.7%. If refinancing is excluded, the number of first home as a proportion of the owner-occupier market lost.5 percentage points over the quarter; it currently sits at 23.7%. Over the March quarter, with the exception of Tasmania, all states and territories recorded decreases in the number of loans to first home. The largest drop was seen in the Northern Territory where the figure nearly halved. Median Weekly Family Income Proportion of family income required to pay loan $1,923.7% $1,927.3% $1, % $1, % $1,6 35.% $1, % Australia wide $1,615.8% $2, % ACT Compared to a ago, the number of first home went up in New South Wales, Victoria, Queensland, the Northern Territory and the Australian Capital Territory. South Australia recorded the largest decline, down by 33.3%. Repayments based on data for new borrowers. $1,299.4% Adelaide Bank/REIA Housing Affordability Report

2 President s Message March Quarter Welcome to the Adelaide Bank/ REIA Housing Affordability Report. This edition of the Adelaide Bank/ REIA Housing Affordability Report for the March Quarter shows a quarterly improvement in housing affordability, however affordability is still worse compared to the same quarter of. During the first quarter of, the proportion of median family income required to meet average monthly loan was.8%. In every state and territory, with the exception of Queensland, housing affordability improved largely driven by further declining interest rates as the average loan size continued its trend upwards and income remained relatively static. In May, REIA welcomed the further cut to the official cash rate introduced by the Reserve Bank that brought the figure to the new low of 2.%. Despite housing affordability easing, rental affordability worsened over the quarter with the proportion of median income required to meed median rents rising.3 percentage points to.1%. In this regard, REIA was pleased the -16 Budget introduced no change to the current negative gearing or capital gain tax arrangements. REIA had strongly advocated to Government that both of these measures should be retained in their current form and we welcome the Government s decision to listen to the sector on this important issue. With the report showing declines in rental affordability, ensuring stability within the sector is imperative to help stimulate housing investment in Australia. Abolition of negative gearing would result in a dwindling supply of properties for rent, escalating rents and reduced opportunities for low to middle income earning Australians to create wealth for self-funded retirement. Neville Sanders REIA President Sponsor s Message At Adelaide Bank, we understand the business of home ownership. That s why we make life as easy as possible for brokers and home, with great value products and personalised service. Our goal is to get people into homes. We ll find the best way to make it happen, and we ll find it fast. It s not just brokers who appreciate our fast turnaround times either. Real estate agents can rest assured that if a homebuyer is with Adelaide, the personalised service will ensure things run as smoothly as possible. It s a question worth asking. Encouraging home ownership should be a key priority for any home lender and Adelaide Bank s sponsorship of this report also allows us to work with the REIA to contribute to the development of sound public policy that, if implemented, will help ease the supply side problems currently putting pressure on housing affordability. Until then, Adelaide Bank s continuing and widely recognised contribution to improving housing affordability is to keep the cost of lending as low as we can, while providing great service through Australia s growing network of mortgage brokers. Please come and pay us a visit at our new-look website to see how we can help you or someone you know realise their property ownership dream sooner. Damian Percy General Manager Adelaide Bank 2

3 Housing Affordability Report The National Snapshot required to meet loan Table 1: Shows the proportion of family income needed to meet loan Chart 1 Shows the movement in the proportion of family income required to meet average home loan since March Chart 1 % Mar-98 Mar-99 required to meet average loan - Australia Mar- Mar-1 Mar-2 Mar-3 Mar-4 Mar-5 Mar-6 Mar-7 Mar-8 Mar-9 Mar- Table 1: needed to meet loan NSW 35.% 36.2% 34.6% VIC 32.8% 33.4% 32.3% QLD 28.1% 28.4% 28.3% SA 28.4% 27.8% 27.4% WA.7% 26.1% 26.4% TAS.4%.9%.2% NT.3% 28.1% 26.5% ACT 19.7%.4% 19.8% AUS.8% 31.5%.6% Rental affordability The Australian weighted average median rent for three-bedroom houses is calculated using Census data and median rents published in Bendigo Bank/REIA Real Estate Market Facts. Over the March quarter, rental affordability declined with the proportion of income required to meet rent payments rising.3 percentage points to.1%. Compared to the same quarter of, the figure decreased by.6 percentage points and rental affordability improved. Over the quarter, New South Wales, Western Australia, Tasmania and the Northern Territory saw rental affordability improving. The Northern Territory recorded the biggest decline in the proportion on the median family income required to meet median rents, down by 2.4 percentage points while the figure increased.9 percentage points in Queensland. When compared to the March quarter of the previous, with the exception of Queensland and South Australia, all states and territories recorded improvement in rental affordability. As with the quarterly change, the Northern Territory saw the best improvement with the proportion falling 3. percentage points. Despite the best improvement, the Northern Territory remained the least affordable state or territory in Australia in which to rent a property. The territory s proportion of income required to meet rent is 31.% 5.9 percentage points higher than the national level. The Australian Capital Territory remained the most affordable state or territory in which to rent a property with the figure sitting at 17.9%. Table 2 shows rental affordability expressed as the proportion of median weekly family income required to meet weekly rent for a three bedroom house. Chart 2 % Proportion of Median Weekly Family Income Spent on Rent Mar-98 Mar-99 Mar- Mar-1 Mar-2 Mar-3 Mar-4 Mar-5 Mar-6 Mar-7 Mar-8 Mar-9 Mar- required to meet: March December March Home loan.8% 31.5%.6% Rent payments.1% 24.8%.7% 3

4 Table 2: needed to meet rent NSW 28.% 28.2% 29.% VIC 23.3% 22.6% 23.4% QLD 24.2% 23.3% 24.% SA 23.3% 22.6% 23.2% WA 22.9% 23.%.% TAS 26.9% 27.% 27.1% NT 31.% 33.4% 34.% ACT 17.9% 17.1% 18.% AUS.1% 24.8%.7% First Home Buyers Over the quarter, the number of first home decreased 15.7% to 22,182 a slight increase of.5% compared to the figure of twelve months ago. The average loan size to first home increased 2.% over the March quarter and by 4.6% compared to the same time last, to $323,8. First home now make up 14.9% of the owner-occupier market. The figure is significantly smaller relative to the long-run average of 19.7%. If refinancing is excluded, the number of first home as a proportion of the owner-occupier market lost.5 percentage points over the quarter; it currently sits at 23.7%. First home share of all dwellings financed and the average size of their loans from the March quarter 6 to the March quarter is shown in Chart 3. Chart Mar-6 First Home Buyers' Share of All Dwellings Financed Sep-6 Percentage, % Average Loan Size, $' Mar-7 Sep-7 Mar-8 Sep-8 Mar-9 Sep-9 Mar- Sep- Percentage (refinancing excluded), % Factors Influencing Home Loan Affordability A range of factors influence home loan affordability: The amount to be borrowed reflects the price of the property being purchased and the borrower s equity situation. The size of the loan, interest rates and the period of the loan determine the average loan repayment. The ability to repay the mortgage depends upon the family income. Chart 4 shows the relationship between the Australian weighted average median house price, median weekly family income and average loan size. Chart 4 $ Mar Jun Sep Dec Mar Jun Median House Prices House prices and income Med Wtd Ave Price Ave Loan Size Sep Dec Mar Jun Sep Mar Jun Med Weekly Family Income $ The Australian median house price rose by 2.4% over the March quarter, to $658,68. Over the quarter, the median house price rose in all the capital cities with the exception of Brisbane and Perth where the figure dropped by 1.5% and 2.7% respectively. Compared to the corresponding quarter of the previous, the median house price went up by 8.9% and with the exception of Perth and Hobart all the capitals contributed to the increase. Detailed data on median prices for houses and other dwellings is available in the Bendigo Bank/REIA Real Estate Market Facts publication, which will be released on June. Dec Mar Jun Sep Dec Sep Dec Mar 4

5 Housing Affordability Report Median Family Income and Average Monthly Loan Repayments The national median weekly family income rose.4% to $1,615 during the March quarter of. This represents a 2.5% increase when compared to the same quarter of. During the first quarter of, the average monthly loan repayment was $2,159 a drop of 1.8% over the quarter but an increase of 3.2% when compared to the corresponding quarter of the previous. The proportion of family income required to meet loan decreased to.8%, down from 31.5% in the March quarter a.2 percentage points increase when compared to twelve months ago. Average Loan (All Borrowers) The total number of loans (excluding decreased 12.8% over the quarter and also 2.4% compared to the March quarter of, to 93,72. Over the first quarter of, the average loan size increased 1.%, to $358,933. This represents an increase of 6.4% compared to a earlier. Interest Rates During the first quarter of, the Reserve Bank of Australia (RBA) introduced a basis points cut to the official cash rate bringing the figure to the historically low level of 2.%. The gap between variable and three fixed rates remained at.7 percentage points. The quarterly average variable standard interest rate decreased.3 percentage points over the quarter and also when compared to the corresponding quarter last, to 5.3%. The quarterly average three fixed rate fell.3 percentage points to 4.6% during the quarter and also.5 percentage points when compared to a earlier. Average quarterly variable interest rates were: 5.4%, a.2 percentage points decrease over the quarter. Permanent 5.%, a.3 percentage points decline during the first quarter of. Other lenders 4.5%, a decrease of.3 percentage points over the March quarter. The average fixed (3 ) interest rates were: 4.6%, a.3 percentage points decline over the quarter. Permanent 4.6%, a decrease of.2 percentage points during the March quarter of. Other lenders 4.4%, a decrease of.5 percentage points during the quarter. Chart 5 shows the movement of the RBA cash rate, the quarterly average standard variable rate and the quarterly average three- fixed rate over the last five s. Chart 5 %, 9,5 9, 8,5 8, 7,5 7, 6,5 6, 5,5 5, 4,5 4, 3,5 3, 2,5 2, Mar- Jun- Sep- Dec- Quarterly interest rates Av. Var Rate RBA Cash Rate Av 3yr Fixed Rate The The () is the ratio of median family income to average loan. An increasing value reflects improving affordability of housing loans. Table 3 shows the for Australia and each state and territory for the March quarter of and is compared with the preceding quarter and the corresponding quarter of. Percentage changes are shown in Table 4. A long-term series of the quarterly movements in the from the March quarter 1997 is shown in Chart 6. Table 3: s NSW VIC QLD SA WA TAS NT ACT AUS

6 Table 4: Percentage Change in Chart % Change: Mar 15 Dec 14 % Change: Mar 15 Mar 14 NSW VIC QLD SA WA TAS NT ACT AUS Home loan affordability indicator over time Table 5: AUSTRALIA () Average since December quarter 1996 devoted to meeting average loan % 31.5%.6%.1% 24.8%.7% Median weekly family income $1,615 $1,68 $1,576 Average monthly loan repayment $2,159 $2,197 $2,92 Average loan $358,933 $355,541 $337,276 Total number of loans (excl 93,72 7,459 96,39 22,182 26,311 22,67 Average first home buyer loan $323,8 $317, $9,433 Average loan $365,2 $361,82 $342,78 Standard variable interest rate 5.4% 5.6% 5.6% Fixed interest rate 4.6% 4.9% 5.1% Average loan $268,363 $271,361 $1,344 Standard variable interest rate 5.% 5.3% 5.5% Fixed interest rate 4.6% 4.8% 5.1% Other Lenders Average loan $,463 $298,316 $294,572 Mar-98 Mar-99 Mar- Mar-1 Mar-2 Mar-3 Mar-4 Mar-5 Mar-6 Mar-7 Mar-8 Mar-9 Mar- Standard variable interest rate 4.5% 4.8% 5.1% Fixed interest rate 4.4% 4.9% 5.1% Percentage Change Since previous quarter 2.2%.2% -.6% 1.3% Chart 7 Australian Rent and from March Quarter 1999 Rent $ Weighted Median Rent 6

7 Housing Affordability Report New South Wales New South Wales recorded an improvement in housing affordability with the proportion of income required to meet loan falling 1.2 percentage points to 35.% an increase of.4 percentage points compared to the March quarter of. With the proportion of income required to meet loan 4.2 percentage points higher than the nation s average, New South Wales remained the least affordable state or territory in which to buy a home. New South Wales was also the second least affordable rental market in the country and recorded a slight improvement in rental affordability. The proportion of income required to meet median rent payments decreased.2 percentage points over the quarter, to 28.%. Compared to the corresponding quarter of, the proportion decreased 1. percentage point an improvement in rental affordability. Of the total number of first home that purchased during the March quarter, 22.4% were from New South Wales. The number of loans to first home decreased 18.6% to 4,96. When compared to the figure a earlier, a rise of 2.%. First home make up only 11.2% of the state s owner-occupier market the lowest level across the nation. The average loan to first home increased 1.4% over the quarter a rise of 7.9% when compared to the March quarter of, to $356,767. Over the quarter, New South Wales recorded a 14.5% decrease in the number of loans (excluding, to,578 a 1.5% increase when compared to the March quarter of. New South Wales is the only state or territory with the average loan size above the $, mark. The figure increased.1% over the quarter and 8.2% compared to twelve months ago, to $5,965. Table 6: NEW SOUTH WALES () Average since December quarter devoted to meeting average loan 35.% 36.2% 34.6% 28.% 28.2% 29.% Median weekly family income $1,6 $1,598 $1,553 Chart 8 Quarterly value Long term average Chart 9 Rent $ per week Quarter Rents and for Sydney from March Consumer Price Index Average monthly loan repayment $2,441 $2,56 $2,328 Other dwellings Average loan $5,965 $5,45 $375,277 Total number of loans (excl.,578 29,916,3 4,96 6,93 4,865 Average first home buyer loan $356,767 $351,967 $3,567 Average loan $421,279 $418,369 $385,18 Average loan $267,495 $267,476 $249,398 Other Lenders Houses NSW is the only state or territory with the average loan size above the $, mark. Average loan $3,794 $316,871 $316,496 Percentage Change Sydney Since previous quarter 3.6%.5% -1.% 1.6% 7

8 Victoria Chart Over the quarter, Victoria showed an improvement in housing affordability, with the proportion of income required to meet loan going down by.6 percentage points, to 32.8%. Compared to a earlier, this is a downturn in housing affordability with the figure rising.5 percentage points. 35 Quarterly value Long term average Rental affordability worsened over the quarter with the proportion of income required to meet median rents going up by.7 percentage points, to 23.3%. The figure decreased marginally by.1 percentage point when compared to the March quarter of. 15 Of the total number of first home that purchased during the March quarter, 29.2% were from Victoria. During the quarter, the number of loans to first home decreased 14.7%, to 6,485, however when compared to the same quarter of the previous, the state had a 16.7% rise. In Victoria, first home make up 16.2% of the state s owner-occupier market and in the first quarter of, the average loan to first home was $322,9. This is a rise of 2.2% over the quarter and also an increase of 4.3% when compared to the figure of last. 5 Chart 11 Quarter In Victoria, the total number of loans (excluding went down 12.9% during the quarter but increased 1.6% compared to the March quarter of, to 24,677. At $365,931, the average loan size gained 1.1% over the March quarter and 6.9% when compared to the corresponding quarter of Rents and for Melbourne from March Table 7: VICTORIA () Average since December quarter 1996 devoted to meeting average loan % 33.4% 32.3% 23.3% 22.6% 23.4% Median weekly family income $1,548 $1,546 $1,5 Rent $ per week Consumer Price Index Average monthly loan repayment $2,1 $2,236 $2,124 Average loan $365,931 $361,82 $342,387 Total number of loans (excl. 24,677 28,339 24,289 6,485 7,67 5,558 Average first home buyer loan $322,9 $316,67 $9,733 Houses Other dwellings Average loan $368,934 $363,45 $344,585 Average loan n/a n/a $6,447 Other Lenders Average loan n/a n/a $29,88 In Victoria, first home make up 16.2% of the owner-occupier market. Percentage Change Melb Since previous quarter 1.7%.1% -1.6% 1.% 8

9 Housing Affordability Report Queensland Chart 12 Housing affordability in Queensland improved compared to the December quarter and also when compared to the March quarter of. The proportion of income required to meet home loan lost.3 percentage points during the quarter and.2 percentage points over last twelve months and is now 28.1%. 35 Quarterly value Long term average Rental affordability in Queensland worsened over the quarter and when compared to the March quarter of with the proportion of the median family income required to meet the median rent going up by.9 and.2 percentage points respectively, to 24.2%. Over the March quarter, the number of loans to first home in Queensland dropped 12.2%, to 4,321 an increase of 4.9% when compared to the corresponding quarter last. Of all Australian first home over the quarter, 19.5% were from Queensland while the proportion of first home of Queensland s owner-occupier market was 15.%. The average loan size to first home increased 2.8% during the quarter and also.4% compared to a earlier, to $295,633. Queensland recorded decreases in the number of loans excluding refinancing over the quarter and also when compared to the March quarter of, down by 9.8% and 4.3% respectively, to 19,958. The average loan size increased 1.9% during the quarter, to $322,618 a 4.6% rise compared to the last quarter of. Table 8: QUEENSLAND () Average since December quarter 1996 devoted to meeting average loan % 28.4% 28.3% 24.2% 23.3% 24.% Median weekly family income $1,594 $1,588 $1,56 Average monthly loan repayment $1,9 $1,956 $1, Chart 13 Rent $ per week Quarter Rents and for Brisbane from March Consumer Price Index Average loan $322,618 $316,539 $8,571 Total number of loans (excl. 19,958 22,129,863 4,321 4,924 4,1 Average first home buyer loan $295,633 $287,467 $294,5 Houses Other dwellings Average loan $3,9 $321,512 $8,42 Other Lenders Percentage Change Brisbane Since previous quarter 1.1%.%.8% 1.4% Of all Australian first home, 19.5% are from Queensland. 9

10 South Australia South Australia was the only state or territory to record a quarterly decline in housing affordability across Australia with the proportion of income required to meet monthly loan increasing.6 percentage points, to 28.4%. Compared to the March quarter of, the figure increased 1. percentage point. Rental affordability worsened with the proportion of income required to meet rent payments rising.7 percentage points over the quarter and.1 percentage point compared to the March quarter of, to 23.3%. Over the March quarter, the number of loans to first home in South Australia fell 18.7% to 1,182. The state had a 33.3% fall when compared to the same quarter of the biggest decline across the country. Of all Australian first home over the quarter, 5.3% were from South Australia while the proportion of first home of South Australia s owner-occupier market was 12.8%. The average loan size to first home increased over the quarter and also when compared to a earlier, up by 3.6% and 8.3% respectively to $265,867. In South Australia, the total number of loans decreased 11.7% over the quarter, to 6,212. This represents a 6.6% drop compared to the March quarter of. At $298,722, the average loan size rose 4.7% over the last quarter of and.3% when compared to twelve months ago. Nationally, the state has the second smallest average loan size. Table 9: SOUTH AUSTRALIA () Average since December quarter 1996 devoted to meeting average loan % 27.8% 27.4% 23.3% 22.6% 23.2% Median weekly family income $1,46 $1,462 $1,416 Average monthly loan repayment $1,796 $1,763 $1,68 Chart 14 Chart 15 Rent $ per week Quarterly value Long term average Quarter Rents and for Adelaide from March Consumer Price Index Average loan $298,722 $285,285 $27,88 Total number of loans (excl. 6,212 7,32 6,651 1,182 1,453 1,772 Average first home buyer loan $265,867 $6,567 $245,5 Average loan $8,642 $295,6 $282,742 Houses Other dwellings Other Lenders Percentage Change Adelaide Since previous quarter -1.9%.1% -3.6% 1.1% South Australia was the only state or territory to record a decline in housing affordability over the quarter.

11 Housing Affordability Report Western Australia Chart 16 Western Australia saw an improvement in housing affordability over the quarter and also when compared to the corresponding quarter of with the proportion of income required to meet loan going down.4 and.7 percentage points respectively, to.7%. Rental affordability in Western Australia improved with the proportion of family income required to meet the median rent going down by.1 percentage point over the quarter and 2.1 percentage points when compared to the before, to 22.9% Quarterly value Long term average Western Australia had a 14.6% decrease in the number of loans to first home over the first quarter of, to 4,261. Compared to the same quarter of, the figure decreased 11.6%. At.4%, the state has the highest proportion of first home of the owner-occupier market across Australia. The average loan to first home went up 2.5% over the quarter and 3.4% compared to the figure twelve months ago, to $341,867. Of all Australian first home who purchased during the quarter, 19.2% were from Western Australia. Over the March quarter, the total number of loans (excluding went down by 14.2% to 12,984 which is a 11.9% drop compared to the before. The average loan increased 2.% over the quarter, to $355,988 a 2.5% rise when compared to the March quarter of. Table : WESTERN AUSTRALIA () Average since December quarter devoted to meeting average loan.7% 26.1% 26.4% 22.9% 23.%.% Median weekly family income $1,923 $1,911 $1,884 Average monthly loan repayment $2,141 $2,158 $2,153 Average loan $355,988 $349,174 $347,144 Total number of loans (excl. 12,984 15,127 14,734 4,261 4,987 4,822 Average first home buyer loan $341,867 $333,367 $3, Chart 17 Rent $ per week Quarter Rents and for Perth from March Other dwellings Houses 115 Consumer Price Index Average loan $355,8 $348,533 $347,661 Other Lenders Percentage Change Perth Since previous quarter 1.3%.1% 2.6% 1.4% Western Australia saw the largest drop in the number of new loans over the. 11

12 Tasmania Chart 18 Tasmania recorded an improvement in housing affordability with the proportion of income required to meet home loan falling.5 percentage points to.4% a.2 percentage points rise compared to the same figure last Quarterly value Long term average Rental affordability in Tasmania improved marginally with the proportion of income to meet median rents sitting at 26.9% a.1 and.2 percentage points decrease over the quarter and when compared to the March quarter of respectively. Tasmania recorded the only quarterly rise in the number of first home across Australia, up by 2.3% to 8. When compared to the March quarter of, a fall of 4.9%. The average loan to first home went down 3.6% over the quarter and.8% compared to the March quarter of the previous, to $216,7. First home in Tasmania made up 15.9% of the owner-occupier market. Over the March quarter, the total number of new loans (excluding decreased 4.1% to 1,922. Compared to the corresponding quarter of the before, the figure went down by 1.1%. At $237,595, the average loan size increased 1.1% over the March quarter and also 4.5% compared to the corresponding quarter of Chart 19 Quarter Table 11: TASMANIA () Average since December quarter 1996 devoted to meeting average loan %.9%.2% 26.9% 27.% 27.1% Median weekly family income $1,299 $1,295 $1,293 Average monthly loan repayment $1,429 $1,452 $1,4 Rent $ per week Rents and for Hobart from March Consumer Price Index Average loan $237,595 $235,16 $227,365 Total number of loans (excl. 1,922 2,5 1, Average first home buyer loan $216,7 $224,9 $218,5 Average loan $2,312 $238,2 $235,445 other Lenders Houses Other dwellings Percentage Change Hobart Since previous quarter 2.1%.3% -.8%.9% Tasmania was the only state or territory where the number of loans to first home increased over the quarter. 12

13 Housing Affordability Report Northern Territory Over the March quarter, the Northern Territory saw the biggest improvement in housing affordability over the quarter and also compared to the March quarter of. The proportion of income required to meet loan is now.3% a 2.8 percentage points lower than in the last quarter of and also 1.2 percentage points less compared to twelve months ago. The Northern Territory is the least affordable jurisdiction in which to rent with the proportion of income required to meet the median rent sitting at 31.%. Rental affordability improved over the quarter and also when compared to the before with the proportion falling 2.4 and 3. percentage points respectively. The Northern Territory recorded the biggest drop in the number of loans to first home over the quarter with the figure almost halving from to 161. Compared to twelve months ago, this represents a 9.5% rise. The average loan to first home went up by 8.3% during the March quarter, showing a 4.4% increase compared to the same quarter a earlier, to 344,. First home make up 17.% of the Territory s owner-occupier market. The Northern Territory recorded the biggest quarterly drop in the total number of loans (excluding, down by.1%, to 645 a 8.9% drop compared to the March quarter of. The average loan went down by 6.9% over the quarter and also 1.% when compared to twelve months before, to $351,64 the only decline across the country. Table 12: NORTHERN TERRITORY () Average since December quarter devoted to meeting average loan.3% 28.1% 26.5% 31.% 33.4% 34.% Median weekly family income $1,927 $1,915 $1,918 Chart Quarterly value Long term average Chart 21 Rent $ per week Quarter Rents and for Darwin from March Consumer Price Index Average monthly loan repayment $2,111 $2,332 $2,199 Average loan $351,64 $377,3 $354,445 Total number of loans (excl Average first home buyer loan $344, $318,33 $329,767 Houses Other dwellings Average loan $375,366 $381,679 $371,149 Other Lenders The NT had the best improvement in housing affordability over the quarter. Percentage Change Darwin Since previous quarter 11.2% -.2% 4.8%.8% 13

14 Australian Capital Territory The Australian Capital Territory recorded an increase in housing affordability with the proportion of income required to meet home loan falling by.7 percentage points over the March quarter to 19.7%. This represents a.1 percentage point decline when compared to the March quarter of. The Australian Capital Territory also showed a decline in rental affordability over the quarter with the proportion of income required to meet the median rent going up by.8 percentage points, to 17.9%. Compared to twelve months ago, the figure lost.1 percentage point. Over the quarter, the Australian Capital Territory recorded a 26.1% decrease in the number of loans to first home, to 4. When compared to twelve months before. This is a rise of 14.1%. During the quarter, first home made up 17.1% of the Territory s owneroccupier market. The average loan for first home went up 3.6% over the quarter but decreased 2.8% when compared to a earlier, to $9,933. The Territory had the second biggest decrease in the number of loans excluding refinancing over the quarter with the figure going down 15.8%, to 1,726. Compared to the March quarter of, the Australian Capital Territory had the biggest jump across the state, up by 4.7%. The average loan size gained.1% over the quarter and is now $358,714 a 3.6% rise compared to the corresponding quarter of. Table 13: AUSTRALIAN CAPITAL TERRITORY () Average since December quarter 1986 devoted to meeting average loan %.4% 19.8% 17.9% 17.1% 18.% Median weekly family income $2,521 $2,58 $2,499 Average monthly loan repayment $2,157 $2,215 $2,149 Chart 22 Quarterly value Long term average 6 5 Chart 23 Rent $ per week Quarter Rents and for Canberra from March Consumer Price Index Average loan $358,714 $358,4 $346,396 Total number of loans (excl. 1,726 2,5 1, Average first home buyer loan $9,933 $299, $318,8 Houses Other dwellings Average loan $362,863 $358,486 $347,837 other Lenders Percentage Change Canberra Since previous quarter 3.1% -.1%.4%.6% The ACT remains the most affordable state or territory in which to buy a home or rent. 14

15 Adelaide Bank/REIA Housing Affordability Report is based on data from all major lending institutions. It is a comprehensive and accurate assessment of the ability of Australians to meet the cost of home purchase. Any differences between information contained in this report and previous editions of the Adelaide Bank/REIA Housing Affordability Report are due to revisions in the database that may be necessary from time to time. : A ratio of family income to average loan payments. (An increase denotes easier affordability). The divided by a (constant) factor of is the number of times by which median family income exceeds average home loan in a full. The reciprocal value of the is the proportion of family income that is required to repay the average home loan in a full. Loans: Average size and total number for first home and all borrowers (excluding are average data over the quarter, based on all lender data from the ABS. Average Monthly Loan Repayment: Loan repayment figures are calculated from data provided by the ABS, Cannex Pollfax, and financial institutions across Australia. From the June quarter 12, interest rates are calculated as weighted average interest rates for banks, building societies and other lenders. Median Weekly Family Income: A family is defined as a married couple with or without dependent children. The major part of family income is adult wages and salaries. Income data are sourced from ABS records, and updated on the basis of movements in average weekly earnings. Quarterly Median House Prices/ Quarterly Median Vacancy Rates: House price and vacancy data are taken from Bendigo Bank/REIA Real Estate Market Facts publication. Proportion of Family Income to Meet Rent Payments: The percentage of Median Weekly Family Income required to meet the median rent for a three bedroom house. Rents are obtained from Bendigo Bank/REIA Real Estate Market Facts publication. Real Estate Institute of Australia The Real Estate Institute of Australia is a federation of state and territory Real Estate Institutes. Formed in 1924, it represents the real estate industry in Australia at national and international levels. Real Estate House 16 Thesiger Court, Deakin, ACT PO Box 234, Deakin West, ACT 26 Phone: (2) Fax: (2) Website: Adelaide Bank Adelaide Bank is a leading customer connected business, operating for more than s. Adelaide Bank was established in January 1994, originating from the Co-operative Building Society of South Australia, which was Australia s largest building society at that time. Adelaide Bank is now the dedicated intermediary lending business of Bendigo and Adelaide Bank Limited. We have a specialised focus on supporting intermediaries through continued product innovation and exceptional service levels. Adelaide Bank s success is achieved by distributing mortgage products through partnerships with industry professionals. This offers our customers the freedom of choice when sourcing products that best meet their financial needs. Adelaide Bank Helpline within Australia: overseas: All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by means of electronic, mechanical, photocopy, recording or otherwise, without the prior consent of the publishers. REAL ESTATE INSTITUTE OF AUSTRALIA ISSN: Registered by Australia Post. Publication No. PP /45 15

16 We ve been connecting people to homes for over a hundred s. At Adelaide Bank, we understand the business of home ownership. That s why we make life as easy as possible for brokers and home, with great value products and personalised service. Our goal is to get people into homes. We ll find the best way to make it happen, and we ll find it fast. adelaidebank.com.au/itspersonal Adelaide Bank a Division of Bendigo and Adelaide Bank Limited ABN AFSL/Australian Credit Licence

Housing Affordability Report

Housing Affordability Report Housing Affordability Report JUNE QUARTER Stable market but no reprieve for first home Housing affordability remained relatively steady in the June quarter of with the proportion of income required to

More information

Home Owners Confidence Boosted as Affordability Improves

Home Owners Confidence Boosted as Affordability Improves JOINT QUARTERLY SURVEY NO.1 JUNE QUARTER Home Owners Confidence Boosted as Affordability Improves e quarter recorded an improvement in housing affordability with the proportion of income required to meet

More information

Housing Affordability Report

Housing Affordability Report Housing Affordability Report Joint ly Survey No. 94. ch Interest rate increases bite hard The title of the Deposit Power/Real Estate Institute of Australia Home Loan Affordability Report has been changed

More information

Home loan affordability report

Home loan affordability report Home loan affordability report Joint Quarterly Survey No. 89. ember Quarter Low affordability challenges Gen X, Y Home loan affordability has taken another beating as the proportion of family income required

More information

Australian Housing Outlook 2014-2017. By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014

Australian Housing Outlook 2014-2017. By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014 Australian Housing Outlook 2014-2017 By Robert Mellor, Managing Director BIS Shrapnel Pty Ltd October 2014 Recent Residential Property Market Trends Residential property demand has varied across purchaser

More information

Housing Australia factsheet

Housing Australia factsheet www.shelter.org.au Housing Australia factsheet A quick guide to housing facts and figures Homelessness There were estimated to be 15,237 people experiencing homelessness on Census night in 211. Page 2

More information

www.nextstepaustralia.com Buying a Property in Australia

www.nextstepaustralia.com Buying a Property in Australia www.nextstepaustralia.com Buying a Property in Australia Buying a Property in Australia Housing Market in Australia - Update May 2010 Trends indicate that Australia has ridden out the worst of its house

More information

RP Data Housing market update. October 2014

RP Data Housing market update. October 2014 RP Data Housing market update October 2014 Residential real estate underpins Australia's wealth Source: RP Data, ASX, SPAA, PCA 2 Capital gain: Home values up 9.3% over past year, however the annual rate

More information

Housing Market Overview Prepared for CitiBank. January 2014

Housing Market Overview Prepared for CitiBank. January 2014 Prepared for CitiBank January 214 Combined capital cities Combined capital city home values increased by 2.8% over the final quarter of 213 according to the RP Data-Rismark Home Value Index. Home values

More information

RP Data chart pack. October 2014

RP Data chart pack. October 2014 RP Data chart pack October 2014 Macro housing market indicators 2 Residential real estate absolutely underpins Australia s wealth position Residential Real Estate $5.6 Trillion Australian Superannuation

More information

Domain Rental Report June Quarter 2016

Domain Rental Report June Quarter 2016 Domain Rental Report June Quarter 2016 Dr Andrew Wilson Chief Economist for domain.com.au Key findings Sydney unit rents continue to climb, with units closing in on house rental prices Relief for tenants

More information

Wherever I lay my debt, that s my home

Wherever I lay my debt, that s my home Wherever I lay my debt, that s my home Trends in housing affordability and housing stress, 1995-96 to 2005-06 AMP.NATSEM Income and Wealth Report Issue 19 - March 2008 CONTENTS 1. Foreword 2 2. Introduction

More information

housing outlook Australian Housing Outlook 2012 2015 Prepared by BIS Shrapnel October 2012

housing outlook Australian Housing Outlook 2012 2015 Prepared by BIS Shrapnel October 2012 housing outlook Australian Housing Outlook 2012 2015 Prepared by BIS Shrapnel October 2012 housing outlook DISCLAIMER: The information contained in this publication has been obtained from BIS Shrapnel

More information

Australian Housing Outlook 2014 2017. Prepared by BIS Shrapnel for QBE October 2014

Australian Housing Outlook 2014 2017. Prepared by BIS Shrapnel for QBE October 2014 Australian Housing Outlook 2014 2017 Prepared by BIS Shrapnel for QBE October 2014 DISCLAIMER: The information contained in this publication has been obtained from BIS Shrapnel Pty Limited and does not

More information

Assistance in the private sector. 11 Rent assistance in the private market...28. 12 Home ownership assistance...31

Assistance in the private sector. 11 Rent assistance in the private market...28. 12 Home ownership assistance...31 Assistance in the private sector 11 Rent assistance in the private market...28 12 Home ownership assistance...31 27 11. Rent assistance in the private market Rent assistance to tenants in the private rental

More information

Australian Housing Outlook 2015 2018. Prepared by BIS Shrapnel for QBE October 2015

Australian Housing Outlook 2015 2018. Prepared by BIS Shrapnel for QBE October 2015 Australian Housing Outlook 2015 2018 Prepared by BIS Shrapnel for QBE October 2015 DISCLAIMER: The information contained in this publication has been obtained from BIS Shrapnel Pty Limited and does not

More information

House price report. September quarter 2014. Dr Andrew Wilson Senior Economist for the Domain Group

House price report. September quarter 2014. Dr Andrew Wilson Senior Economist for the Domain Group September quarter 2014 Dr Andrew Wilson Senior Economist for the Domain Group Key findings Most capital city housing markets recorded falls in house prices over the September quarter September quarter

More information

Quarterly Review. The Australian Residential Property Market and Economy. Released September 2015

Quarterly Review. The Australian Residential Property Market and Economy. Released September 2015 Quarterly Review The Australian Residential Property Market and Economy Released September 215 Contents Housing Market Overview 3 Sydney Market Overview 9 Melbourne Market Overview 1 Brisbane Market Overview

More information

House price to income ratio... 2. Recent commentary on Australia s ratio and market... 2. Data inputs and analysis... 3. Results...

House price to income ratio... 2. Recent commentary on Australia s ratio and market... 2. Data inputs and analysis... 3. Results... House Price to Income Ratios in Australia December 2010 House price to income ratio... 2 Recent commentary on Australia s ratio and market... 2 Data inputs and analysis... 3 Results... 4 House price to

More information

Hot property market leaves first home buyers waiting

Hot property market leaves first home buyers waiting MEDIA RELEASE EMBARGOED UNTIL 12.01AM FRIDAY, 19 DECEMBER, 2014 Hot property market leaves first home buyers waiting Growth in housing prices attributed to low interest rates and high levels of investor

More information

MORTGAGE FOCUS with Kelly Wealth Lending Services and Acceptance Finance

MORTGAGE FOCUS with Kelly Wealth Lending Services and Acceptance Finance July/August 2015 MORTGAGE FOCUS with Kelly Wealth Lending Services and Acceptance Finance Happy New Financial Year! We hope that tax time is not proving to be too tedious for you and you re looking forward

More information

A Portrait of Australian Home Prices

A Portrait of Australian Home Prices A Portrait of Australian Home Prices October 2014 Key Points: Recent pronouncements from the Reserve Bank of Australia (RBA) and some media commentators have indicated that a continuation of dwelling price

More information

Residential Property Prospects

Residential Property Prospects Residential Property Prospects 2015 2018 Extract to indicate the general nature of the report www.bis.com.au BIS Shrapnel Pty Limited June 2015 The information contained in this report is the property

More information

Why choose LJ Hooker Home Loans?

Why choose LJ Hooker Home Loans? Why choose LJ Hooker Home Loans? Welcome! Whether buying a first home, dream home or investing, for most of us the right lending product and structure is vital. In 2014 our lending specialists helped more

More information

Employment Outlook for. Electricity, Gas, Water and Waste Services

Employment Outlook for. Electricity, Gas, Water and Waste Services Employment Outlook for Electricity, Gas, Water and Waste Contents INTRODUCTION... 3 EMPLOYMENT GROWTH... 4 EMPLOYMENT PROSPECTS... 6 VACANCY TRENDS... 8 WORKFORCE AGEING... 10 EMPLOYMENT BY GENDER AND

More information

Household Borrowing Behaviour: Evidence from HILDA

Household Borrowing Behaviour: Evidence from HILDA Household Borrowing Behaviour: Evidence from HILDA Ellis Connolly and Daisy McGregor* Over the 199s and the first half of the s, household debt grew strongly in response to lower nominal interest rates

More information

REVIEW OF FINANCIAL CONDITIONS: JUNE 2012

REVIEW OF FINANCIAL CONDITIONS: JUNE 2012 REVIEW OF FINANCIAL CONDITIONS: JUNE 1 HOUSEHOLD SECTOR Real household disposable income increased by 1. per cent in the March quarter to be.8 per cent higher over the year. The household saving ratio

More information

Commonwealth of Australia 2011 ISBN 978-1-921916-17-5 DIISR 11/052

Commonwealth of Australia 2011 ISBN 978-1-921916-17-5 DIISR 11/052 Commonwealth of Australia 2011 ISBN 978-1-921916-17-5 DIISR 11/052 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without

More information

THE ARLA REVIEW & INDEX

THE ARLA REVIEW & INDEX THE ARLA REVIEW & INDEX for Residential Investment FOURTH Quarter 2014 Fourth Quarter 2014 Compared with three months ago, the average weighted rental return for houses is up from 5.0% to 5.1%, its second

More information

Investment & Reliability in the Australian National Electricity Market: A Perspective

Investment & Reliability in the Australian National Electricity Market: A Perspective Investment & Reliability in the Australian National Electricity Market: A Perspective Doug Cooke Energy Diversification Division International Energy Agency Joint IEA-NEA Workshop on Power Generation Investment

More information

Barometer 2015. An annual study of the mortgage market and associated insurance in Australia Prepared by GfK Australia for QBE

Barometer 2015. An annual study of the mortgage market and associated insurance in Australia Prepared by GfK Australia for QBE Barometer 2015 An annual study of the mortgage market and associated insurance in Australia Prepared by GfK Australia for QBE Note: DISCLAIMER: The information contained in this publication has been obtained

More information

Accounting Services Industry Report

Accounting Services Industry Report Industry Report Accounting Services Industry Report Industry Division Professional, Scientific and Technical Services Industry Group Legal and Accounting Services Industry Class Accounting Services The

More information

REAL ESTATE INSTITUTE OF AUSTRALIA SMALL BUSINESS CREDIT RESOLUTION SERVICE DISCUSSION PAPER

REAL ESTATE INSTITUTE OF AUSTRALIA SMALL BUSINESS CREDIT RESOLUTION SERVICE DISCUSSION PAPER Real Estate Institute of Australia 16 Thesiger Court I PO Box 234, Deakin ACT 2600 Phone (02) 6282 4277 I Fax (02) 6285 2444 REAL ESTATE INSTITUTE OF AUSTRALIA SMALL BUSINESS CREDIT RESOLUTION SERVICE

More information

Quarterly Review. The Australian Residential Property Market and Economy. Released November 2014

Quarterly Review. The Australian Residential Property Market and Economy. Released November 2014 Quarterly Review The Australian Residential Property Market and Economy Released November 2014 Better data + = Better analytics Better decisions Contents Housing Market Overview Sydney Market Overview

More information

REPORT: COST OF LIVING AND STANDARD OF LIVING INDEXES FOR AUSTRALIA June 2013. Ben Phillips Principal Research Fellow

REPORT: COST OF LIVING AND STANDARD OF LIVING INDEXES FOR AUSTRALIA June 2013. Ben Phillips Principal Research Fellow NATSEM NATSEM Working Paper HOUSEHOLD Yr/No BUDGET REPORT: COST OF LIVING AND STANDARD OF LIVING INDEXES FOR AUSTRALIA June 2013 Ben Phillips Principal Research Fellow August 2013 About NATSEM The National

More information

Domain House Price Report June Quarter 2015

Domain House Price Report June Quarter 2015 Domain House Price Report June Quarter 2015 Dr Andrew Wilson Senior Economist for the Domain Group Key findings Sydney market reports remarkable growth over June quarter to reach median house price of

More information

STAR RATINGS REPORT. Home Loans

STAR RATINGS REPORT. Home Loans 2015 STAR RATINGS REPORT Home Loans Home Loans September 2015 Foreword There s no doubt that getting into the property market is still the Great Australian Dream, but the average housing in our capital

More information

House price report. March quarter Dr Andrew Wilson Senior Economist - Domain Group

House price report. March quarter Dr Andrew Wilson Senior Economist - Domain Group March quarter 2015 Dr Andrew Wilson Senior Economist - Domain Group Key findings Mixed results as local factors drive prices growth despite interest rate cut March quarter results market continues to record

More information

Welcome home to true value.

Welcome home to true value. Welcome home to true value. We are the specialists. Whether buying your first home, your dream home or investing in property, the right finance guidance is essential. At LJ Hooker Home Loans we combine

More information

Land Use Regulation: Comparing Housing Affordability in Sydney, Melbourne, Dallas-Fort Worth and Atlanta

Land Use Regulation: Comparing Housing Affordability in Sydney, Melbourne, Dallas-Fort Worth and Atlanta Land Use Regulation: Comparing Housing Affordability in Sydney, Melbourne, Dallas-Fort Worth and Atlanta T he devastating impact of more prescriptive land use regulation (urban consolidation or compact

More information

AUSTRALIAN PUBLIC LIBRARIES STATISTICAL REPORT 2011-2012

AUSTRALIAN PUBLIC LIBRARIES STATISTICAL REPORT 2011-2012 AUSTRALIAN PUBLIC LIBRARIES STATISTICAL REPORT 2011-2012 Compiled by Regional Access and Public Libraries, State Library of Queensland July 2013 Foreword The National Library and the State and Territory

More information

SMALL BUSINESS NATION 2013

SMALL BUSINESS NATION 2013 SMALL BUSINESS NATION 2013 Australia has always been an entrepreneurial nation, with small business the backbone of the economy and the labour force. The Australian spirit of independence, a DIY attitude

More information

Government of Western Australia PRODUCTIVITY COMMISSION INQUIRY ON FIRST HOME OWNERSHIP SUBMISSION BY THE WESTERN AUSTRALIAN GOVERNMENT

Government of Western Australia PRODUCTIVITY COMMISSION INQUIRY ON FIRST HOME OWNERSHIP SUBMISSION BY THE WESTERN AUSTRALIAN GOVERNMENT Government of Western Australia PRODUCTIVITY COMMISSION INQUIRY ON FIRST HOME OWNERSHIP SUBMISSION BY THE WESTERN AUSTRALIAN GOVERNMENT OCTOBER 2003 CONTENTS EXECUTIVE SUMMARY... 1 CHAPTER 1: INTRODUCTION...

More information

Global Cities and Housing

Global Cities and Housing Global Cities and Housing The Sydney Case in its Australian and International Context Vivienne Milligan Context Demography and urban settlement patterns Economic conditions Governance, policy and institutions

More information

Credit Guide. Anne Street Partners Home Loans Pty Ltd

Credit Guide. Anne Street Partners Home Loans Pty Ltd Credit Guide Anne Street Partners Home Loans Pty Ltd A guide to our relationship with you and other parties This Credit Guide contains important infomation about: Who we are and the services we provide

More information

Report into the Rural, Regional and Remote Areas Lawyers Survey. Prepared by the Law Council of Australia and the Law Institute of Victoria

Report into the Rural, Regional and Remote Areas Lawyers Survey. Prepared by the Law Council of Australia and the Law Institute of Victoria Report into the Rural, Regional and Remote Areas Lawyers Survey Prepared by the Law Council of Australia and the Law Institute of Victoria July 2009 Acknowledgements The Law Council is grateful for the

More information

Housing market report

Housing market report Domain Capital City Market Report Prepared July Dr Andrew Wilson, Senior Economist Australian Property Monitors Buyer momentum rises and the Australian housing market strengthens to record levels National

More information

Financial services guide

Financial services guide Macquarie Equities Limited About this document This Financial Services Guide (Guide) is an important document that outlines the types of products and services that Macquarie Equities Limited ( MEL, we,

More information

Median house prices on the way up in all capital cities

Median house prices on the way up in all capital cities A QUARTERLY REVIEW OF MAJOR PROPERTY MARKETS IN AUSTRALIA JUNE QUARTER 29 Median house prices on the way up in all capital cities All Australian capital city property markets have recorded increases in

More information

Commercial notes SECURITIES: ENSURING PAYMENT OF DEBTS TO THE COMMONWEALTH. What types of property can be used as security?

Commercial notes SECURITIES: ENSURING PAYMENT OF DEBTS TO THE COMMONWEALTH. What types of property can be used as security? Number 33 9 November 2009 Commercial notes SECURITIES: ENSURING PAYMENT OF DEBTS TO THE COMMONWEALTH In this note we consider the ways that Commonwealth departments, agencies and authorities can obtain

More information

HUDSON SALARY GUIDES 2015

HUDSON SALARY GUIDES 2015 Australia HUDSON SALARY GUIDES 2015 Office Support about this publication This Salary Guide is a compilation of salary and market information provided by Hudson consultants, clients, candidates and other

More information

AMP.NATSEM Income and Wealth Report. Household debt in Australia

AMP.NATSEM Income and Wealth Report. Household debt in Australia AMP.NATSEM Income and Wealth Report Household debt in Australia Issue 38 December 2015 This report explores key questions about Australia s household debt What is our debt profile? How have debt levels

More information

How do we get more first home buyers into the market?

How do we get more first home buyers into the market? How do we get more first home buyers into the market? It s a question that has stumped successive governments and brought out many opinions, theories and remedies by commentators. But while policy makers

More information

5C R I M I N A L J U S T I C E R E S O U R C E S

5C R I M I N A L J U S T I C E R E S O U R C E S 5C R I M I N A L J U S T I C E R E S O U R C E S Justice expenditure According to the Report on Government Services (1998), the total government expenditure on justice in 1996/97 was approximately $5.4

More information

Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry

Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry Pricing, Cost Structures, and Profitability in the Australian Vegetable Industry This paper examines some key financial aspects of the Australian vegetable industry as it relates to pricing and costs of

More information

HUDSON SALARY GUIDES 2015

HUDSON SALARY GUIDES 2015 Australia HUDSON SALARY GUIDES 2015 Supply Chain & Procurement about this publication This Salary Guide is a compilation of salary and market information provided by Hudson consultants, clients, candidates

More information

HOUSING PRICES IN AUSTRALIA: 1970 TO 2003

HOUSING PRICES IN AUSTRALIA: 1970 TO 2003 HOUSING PRICES IN AUSTRALIA: 1970 TO 2003 Peter Abelson and Demi Chung pabelson@efs.mq.edu.au ABSTRACT There have been few reliable published data for housing prices in Australia (as in many other countries).

More information

ownership possible The benefi ts of Lenders Mortgage Insurance for Borrowers July 2009

ownership possible The benefi ts of Lenders Mortgage Insurance for Borrowers July 2009 making home ownership possible The benefi ts of Lenders Mortgage Insurance for Borrowers July 2009 making home ownership possible Achieving the dream of home ownership is one of the most exciting accomplishments

More information

BANKWEST CURTIN ECONOMICS CENTRE. The real costs of housing in WA

BANKWEST CURTIN ECONOMICS CENTRE. The real costs of housing in WA BANKWEST CURTIN ECONOMICS CENTRE Housing Affordability The real costs of housing in WA Focus on Western Australia Report Series, No.2 April 2014 About the Centre The Bankwest Curtin Economics Centre is

More information

Defining Housing Equity Withdrawal

Defining Housing Equity Withdrawal Housing Reserve Equity Bank of Australia Bulletin February 23 Housing Equity The increase in housing prices in recent years has contributed to rising household wealth and has helped to underpin continued

More information

AUSTRALIAN PUBLIC LIBRARIES STATISTICAL REPORT 2010-2011. Final Report

AUSTRALIAN PUBLIC LIBRARIES STATISTICAL REPORT 2010-2011. Final Report AUSTRALIAN PUBLIC LIBRARIES STATISTICAL REPORT 2010-2011 Final Report Compiled by Public & Indigenous Library Services State Library of Queensland July 2012 Foreword The National Library and the State

More information

Eighteen Month Review of the National Partnership Agreement on Early Childhood Education

Eighteen Month Review of the National Partnership Agreement on Early Childhood Education Eighteen Month Review of the National Partnership Agreement on Early Childhood Education Report by Allen Consulting Group And Statements by the Commonwealth and each State and Territory on the Allen Consulting

More information

3. Household and Business Finances

3. Household and Business Finances 3. Household and Business Finances The pick-up in household risk appetite that was evident six months ago appears to have continued, as has the associated willingness to take on some types of debt. Housing

More information

REAL ESTATE INSTITUTE OF AUSTRALIA COMMONWEALTH GOVERNMENT PRE BUDGET SUBMISSION 2014/15

REAL ESTATE INSTITUTE OF AUSTRALIA COMMONWEALTH GOVERNMENT PRE BUDGET SUBMISSION 2014/15 Real Estate Institute of Australia 16 Thesiger Court I PO Box 234, Deakin ACT 2600 Phone (02) 6282 4277 I Fax (02) 6285 2444 ABN: 81008652597 REAL ESTATE INSTITUTE OF AUSTRALIA COMMONWEALTH GOVERNMENT

More information

3. Domestic Economic Conditions

3. Domestic Economic Conditions 3. Domestic Economic Conditions Growth in the Australian economy appears to have remained a bit below average over 1 (Graph 3.1). Strong growth in the September quarter was driven by a rebound in resource

More information

Housing Turnover and First-home Buyers

Housing Turnover and First-home Buyers Housing Turnover and First-home Buyers Paul Bloxham, Daisy McGregor and Ewan Rankin* While housing turnover varies over time, on average, around 6 per cent of the housing stock, or around dwellings, change

More information

Traditional gender roles still evident

Traditional gender roles still evident 17 November 2011 Public Affairs Tel: 02 9257 6127 Email: media@amp.com.au Website: AMP.com.au/media AMP_au Australian families feeling time pressured Traditional gender roles still evident Balancing work

More information

TRAVEL BY AUSTRALIANS

TRAVEL BY AUSTRALIANS TRAVEL BY AUSTRALIANS Quarterly results of the National Visitor Survey JUNE 2013 TRAVEL BY AUSTRALIANS Travel by Australians June 2013 Quarterly Results of the National Visitor Survey Image: Sailing,

More information

Housing market report

Housing market report Australian Capital City Market Report Prepared June Dr Andrew Wilson, Senior Economist Australian Property Monitors Strong autumn launching pad for higher winter activity National overview Australia s

More information

HOME LOAN OPTIMISER. Call 6234 6400. Email info@lendme.net.au. Visit www.lendme.net.au HOW TO GET THE BEST OUT OF YOUR HOME LOAN

HOME LOAN OPTIMISER. Call 6234 6400. Email info@lendme.net.au. Visit www.lendme.net.au HOW TO GET THE BEST OUT OF YOUR HOME LOAN HOME LOAN OPTIMISER HOW TO GET THE BEST OUT OF YOUR HOME LOAN Visit www.lendme.net.au 2 3 CONTENTS Choose the right loan 3 Seek a mortgage broker to stay informed with competitive products 8 Maximize the

More information

Brisbane Too Expensive for Emergency Workers and Teachers

Brisbane Too Expensive for Emergency Workers and Teachers MEDIA RELEASE Embargoed until 12:01am Monday 27 July 2009 Brisbane Too Expensive for Emergency Workers and Teachers Owning a house in the city they serve remains an unattainable dream for Brisbane s struggling

More information

Identification GETTING STARTED

Identification GETTING STARTED Identification GETTING STARTED 3 This is Booklet 3 in the Getting Started Series. Getting Started is a guide for people leaving prison. Booklets 1 The First Week 2 Housing 3 Identification 4 Alcohol and

More information

A TO Z OF BUYING A PROPERTY

A TO Z OF BUYING A PROPERTY A TO Z OF BUYING A PROPERTY It s My Home explains some of the different steps involved in the property buying process Buying your first home is one of the most exciting things you will do in your life,

More information

research report 53 Dental decay among Australian children This report provides information on the dental decay experience of Australian Main findings

research report 53 Dental decay among Australian children This report provides information on the dental decay experience of Australian Main findings AIHW Dental Statistics and Research Unit Research report 53 July 2011 Dental decay among Australian children This report provides information on the dental decay experience of Australian children from

More information

CoreLogic TEG Rewards Consumer housing market sentiment survey Released: Tuesday 19 April, 2016

CoreLogic TEG Rewards Consumer housing market sentiment survey Released: Tuesday 19 April, 2016 National Media Release CoreLogic TEG Rewards Consumer housing market sentiment survey Released: Tuesday 19 April, 2016 Two thirds of Australians think the housing market is vulnerable The latest CoreLogic

More information

AUSTRALIA S BROKEN HOUSING SYSTEM

AUSTRALIA S BROKEN HOUSING SYSTEM Cost of living The cost of housing is the single biggest cost of living issue in Australia today. Compared to other expenditure items, housing costs comprise the biggest share of household budgets accounting

More information

Credit Services Guide. Anne Street Partners Home Loans Pty Ltd

Credit Services Guide. Anne Street Partners Home Loans Pty Ltd Credit Services Guide Anne Street Partners Home Loans Pty Ltd A guide to our relationship with you and others Our Commitment to You: This Guide contains important information about: The services and types

More information

Understand Home Insurance Research Report

Understand Home Insurance Research Report Understand Home Insurance Research Report Prepared by Quantum Market Research for the Insurance Council of Australia Background to this report To better understand consumer attitudes around their home

More information

Health expenditure Australia 2011 12: analysis by sector

Health expenditure Australia 2011 12: analysis by sector Health expenditure Australia 2011 12: analysis by sector HEALTH AND WELFARE EXPENDITURE SERIES No. 51 HEALTH AND WELFARE EXPENDITURE SERIES Number 51 Health expenditure Australia 2011 12: analysis by sector

More information

Welcome to our August Newsletter

Welcome to our August Newsletter In this issue: Welcome to our August Newsletter Winter is usually the quiet period for property market news, but with the recent tightening of controls on investment lending by the Australian Prudential

More information

SUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING. Prepared by National Policy Office

SUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING. Prepared by National Policy Office SUBMISSION TO INQUIRY INTO AFFORDABLE HOUSING Prepared by National Policy Office March 2014 COTA Australia Authorised by: Ian Yates AM Chief Executive iyates@cota.org.au 0418 835 439 Prepared by: Jo Root

More information

CommBank Accounting Market Pulse Conducted by Beaton Research + Consulting

CommBank Accounting Market Pulse Conducted by Beaton Research + Consulting CommBank Accounting Market Pulse Conducted by Beaton Research + Consulting July 215 COMMBANK ACCOUNTING MARKET PULSE JULY 215 Contents Foreword 2 Economic outlook 3 Snapshot of survey findings 5 Business

More information

Application for Attendant Allowance

Application for Attendant Allowance Application for Attendant Allowance Attendant allowance The Department of Veterans Affairs (DVA) recognises and supports the need for veterans to receive assistance with activities of daily living. Attendant

More information

The Financial Position of Australian Unlisted Businesses

The Financial Position of Australian Unlisted Businesses The Financial Position of Australian Unlisted Businesses Tom Bilston and Melissa Watson* Using a variety of information sources, the financial position of unlisted firms in recent years is examined and

More information

Commonwealth Rent Assistance, June 2002

Commonwealth Rent Assistance, June 2002 Commonwealth Rent Assistance, June 2002 A profile of recipients bulletin 14 Introduction Commonwealth Rent Assistance (CRA) is a non-taxable income supplement paid through Centrelink to individuals and

More information

Keystart Home Loans Product Guide

Keystart Home Loans Product Guide Keystart Home Loans Product Guide September 2013 Keystart Loans Ltd ABN 27 009 427 034 Australian Credit Licence 381437 1 Contents About this booklet 3 Keystart home loan 4 SharedStart home loan 6 Aboriginal

More information

HUDSON SALARY GUIDES 2015

HUDSON SALARY GUIDES 2015 Australia HUDSON SALARY GUIDES 2015 Human Resources about this publication This Salary Guide is a compilation of salary and market information provided by Hudson consultants, clients, candidates and other

More information

Australia & New Zealand. Return to Work Monitor 2011/12. Heads of Workers Compensation Authorities

Australia & New Zealand. Return to Work Monitor 2011/12. Heads of Workers Compensation Authorities Australia & New Zealand Return to Work Monitor 2011/12 Prepared for Heads of Workers Compensation Authorities July 2012 SUITE 3, 101-103 QUEENS PDE PO BOX 441, CLIFTON HILL, VICTORIA 3068 PHONE +613 9482

More information

The underlying fundamentals of housing affordability: the Sydney dynamics.

The underlying fundamentals of housing affordability: the Sydney dynamics. The underlying fundamentals of housing affordability: the Sydney dynamics. Associate Professor Angelo Karantonis Head of School School of the Built Environment University of Technology, Sydney Keywords:

More information

Negative Equity and House Price Risk in Australia

Negative Equity and House Price Risk in Australia Negative Equity and House Price Risk in Australia Wood, G. & Parkinson, S. February 5 th 2009 Gavin Wood & Sharon Parkinson AHURI RMIT Research Centre Bldg 15 Level 4, GPO Box 2476V, Melbourne, Vic 3001

More information

What the latest evidence tells us

What the latest evidence tells us What the latest evidence tells us Sustaining private tenancies: experiences & opportunities Dr Wendy Stone Director AHURI Research Centre Swinburne University of Technology Overview Drawn from new AHURI

More information

NSW housing: a factsheet

NSW housing: a factsheet NSW housing: a factsheet Quick guide to key housing facts and figures Housing Stress page 4 In NSW, 78% of very low income renter households were experiencing rental stress on census day 2011. In NSW,

More information

COMMINSURE HOME INSURANCE PREMIUM, EXCESS AND DISCOUNT GUIDE.

COMMINSURE HOME INSURANCE PREMIUM, EXCESS AND DISCOUNT GUIDE. COMMINSURE HOME INSURANCE PREMIUM, EXCESS AND DISCOUNT GUIDE. This document provides you with information to help you understand how your total premium has been calculated, discounts that are available

More information

The Pepper Advantage Suite of Home Loans

The Pepper Advantage Suite of Home Loans The Pepper Advantage Suite of Home Loans product guide Contents Pepper Flexi Advantage 2 Pepper Flexi Advantage PLUS 4 Pepper Self-Employed Advantage 6 Pepper Self-Employed Advantage PLUS 8 Pepper Easy

More information

Capital Cities of Australia

Capital Cities of Australia Capital Cities of Australia Overview This activity uses a map of Australia and the populations of Capital cities as a source of large numbers for students to practise ordering, verbalising, and approximating,

More information

ARLA Members Survey of the Private Rented Sector

ARLA Members Survey of the Private Rented Sector Prepared for The Association of Residential Letting Agents ARLA Members Survey of the Private Rented Sector Fourth Quarter 2013 Prepared by: O M Carey Jones 5 Henshaw Lane Yeadon Leeds LS19 7RW December,

More information

banking Your House A guide to buying an investment property www.bendigobank.com.au

banking Your House A guide to buying an investment property www.bendigobank.com.au banking Your House A guide to buying an investment property www.bendigobank.com.au Your House A guide to buying an investment property Investing in real estate was once a difficult and stressful market

More information

3. Household and Business Finances

3. Household and Business Finances 3. Household and Business Finances Risks posed to the household sector continue to stem largely from the housing and mortgage markets, especially from investor activity in some cities. This activity has

More information

Home Loans made easy

Home Loans made easy Home Loans made easy Finding the information you need in this brochure 03 Your own Home Loan Specialist 04 Why Suncorp Bank 06 Home loan options explained 6 Variable Rate 8 Fixed Rate 8 Line of Credit

More information

Where is it cheaper to buy than rent?

Where is it cheaper to buy than rent? Where is it cheaper to buy than rent? The case to buy is looking stronger Over the last year there have been some fundamental shifts in the Australian property market. Property values have fallen, albeit

More information