This report by the Bankwest Curtin Economics Centre focuses on housing affordability, one of the most important economic and social issues facing Western Australia, and indeed the country.
This twelfth report in BCEC’s Focus on WA series builds on the Centre’s earlier reports into housing affordability, and includes new analysis of the latest trends in housing affordability since the release of the first housing affordability report in 2014.
The report benefits from new suburb-level transactions data both for housing sales and rents, provided by the Real Estate Institute of Western Australia, as well as from numerous secondary data sources provided by the Australian Bureau of Statistics.
And the report includes important new findings from the fourth Bankwest Curtin Economics Centre Housing Affordability Survey. The latest BCEC survey draws on responses collected during April 2019 from 3,600 households in WA, New South Wales and Queensland. This gives us a unique opportunity to benchmark WA’s housing affordability position relative to the situation faced by other states.
This report focuses on a series of key issues:
- How have housing cost burdens changed in the last decade?
- How do mortgage and rental cost stresses vary for households in different social and economic circumstances? Which family types are facing the highest levels of housing stress?
- How do housing affordability outcomes vary between Perth’s metropolitan suburbs, across regional centres of WA, and between WA and other states?
- How do West Australian households’ housing cost burdens influence their financial wellbeing?
- To what degree are these households making constrained housing choices and accepting trade-offs in their housing decisions?