Housing affordability in WA: a tale of two tenures
PublisherRental affordability Affordable housing Housing prices Housing supply Western Australia
Housing affordability has been an ongoing issue for West Australian households. Having a place to call home is about more than providing shelter. Homes are where we can feel safe and part of a community, raise families, build memories and dreams, and create a nest egg that can mean the difference between a modest and comfortable retirement.
The report includes important new findings from the fourth BCEC Housing Affordability Survey, collecting data from more than 4,000 households in April 2021 across Western Australia, New South Wales and Queensland.
- Perth now ranks third among states for annual growth in the price of established house, behind Hobart and Sydney.
- Housing loans in WA reached a historic peak in February 2021, with around $2.4 billion in loans allocated to the housing sector – twice the value of the previous year.
- The proportion of WA respondents regarding their housing as affordable has risen from 39% in 2015 to 53% in 2021
- Since 2015 there has been a decline in the proportion of households having difficulty meeting housing costs, with the proportion frequently struggling falling from 24% to 11% in 2021.
- Private renters had the most difficulty meeting housing costs with 34% regularly struggling compared to 26% of those with a mortgage.
Bankwest Curtin Economics Centre 2021
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Focus on Western Australia Report Series No.15
25 Jun 2021