Report

Housing occupancy and costs, Australia, 2005-06

5 Dec 2007
Description

The number of homes that are owned outright by their occupants has decreased over the last decade, according to this ABS report. In 2005-06, just over a third (34%) of homes were owned outright by their occupants - down from 42% in 1994-95. Over the same time, the proportion of homes owned with a mortgage increased from 30% to 35%.

Main findings

* In 2005–06, there were more people in private dwellings (up 13%) than in 1994-95, but the average household size decreased by 7%
* In 2005-06 most (78%) houses had more bedrooms than required
* The proportion of gross household income required to meet housing costs increased from 12% to 14%
* Sydney had the highest housing costs in Australia - for private renters, Sydney's costs averaged $294 per week, followed by Canberra ($280) and Darwin ($259).
* For owners with a mortgage, Sydney's housing costs averaged $443 per week, followed by Canberra ($343) and Brisbane ($338).
* The median value of owner occupied dwellings rose from $186,000 to $350,000 - up 88% between 1994-95 and 2005-06.
* Sydney's home owners had the highest median dwelling value ($500,000), while Hobart's had the lowest ($262,000).
First home buyers

* First home buyers with a mortgage were generally young, couple families with two incomes.
* First home buyers with a mortgage had an average household income of $1,544 per week in 2005-06, 18% higher than the average for all households.
* One in four (25%) first home buyers with a mortgage purchased medium and high density housing in 2005-06, up from 15% in 1995-96. This publication presents data from the Survey of Income and Housing (SIH) on Australian housing occupancy and costs, and relates these to characteristics of occupants and dwellings such as tenure, family composition of household, dwelling structure, age, income and principal source of income. It also includes value of dwelling estimates, and information on recent home buyers. The publication includes a feature article on first home buyers in Australia.

Publication Details
Published year only: 
2007
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