Housing in Australia interactive infographic


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Housing in Australia interactive infographic

Housing in Australia interactive infographic

The median value of houses and units across Australia is on the rise, and so are housing costs for both owners and renters. Get a glimpse of the change in housing costs and median values over time, discover facts about first home buyers and changeover buyers, and find out where the hottest investment properties are.

Average housing costs per week

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On average, owners with a mortgage had the highest mean housing costs per week in 2011-12. Owners in the Northern Territory paid more than in all the other states, while renters were best off in South Australia and Tasmania1.

Average weekly housing costs per week: Owners without mortgage

NSW VIC QLD SA WA TAS NT ACT AUS
$40 $42 $44 $41 $37 $41 $41 $44 $41

Changes in average weekly
housing costs over time

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Average weekly housing costs have increased significantly since 1996. Housing costs as shown below cover housing-related mortgage payments, rates payments (general and water) and rent payments2.

Average weekly housing costs over time: owners vs renters ($)

Total median value
and number of dwellings

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Both the number of housing finance commitments and the total value of housing finance commitments have increased in almost every Australian state between January 2013 and January 20143. Separate houses in NSW have a higher median value than any other dwelling type across Australia4.

Number of housing finance commitments (2014)

Home buyers in Australia

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The demographics of first home buyers compared to changeover buyers are significantly different, as are the types of dwellings they buy, the amount of finance they have against their properties and average housing costs. Here are some key facts about the different types of home buyers in Australia.

First home buyers

The proportion of all home loans taken out by first home buyers has fallen since January 2014 to a low of 12.3 per cent.

The proportion of all home loans taken out by first home buyers has fallen since January 2014 to a low of 12.3 per cent5,6.

The current average loan amount for first home buyers is $300,900.

The current average loan amount for first home buyers is $300,9005.

First home buyers with a mortgage live in dwellings that have an average of 3 bedrooms7.

First home buyers with a mortgage live in dwellings that have an average of 3 bedrooms.

Couples with dependent children and couple only households make up the majority (65 per cent) of first home buyers with a mortgage7.

Couples with dependent children and couple only households make up the majority (65 per cent) of first home buyers with a mortgage.
buyers

Investment property hot spots

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A high rental yield - that is, how much cash an income generating asset produces each year as a percentage of that asset's value - means good cash flow, and can improve your return on property investment8. These suburbs were the investment property hotspots in June 2014, based on their rental yield9.

Investment property hot spots

10 most expensive suburbs to
buy property in Australia

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The total value of Australian residential properties rose to a record $5.02 trillion in the December 2013 quarter. Peppermint Grove in Perth, Bellevue Hill in Sydney, and Toorak in Melbourne were among Australia's top ten most expensive suburbs of 2013, based on their median house value10.

Peppermint Grove is a quintessential 'gated community', filled with old and modern mansions occupied by the wealthy. Credit: Wikimedia Commons, attributed to Orderinchaos.

Peppermint Grove, Perth (median house value: $3,869,724)

Despite being the most expensive place in the country to buy property, Peppermint Grove is the smallest municipality in Western Australia, covering just 1.5 square kilometres of land with a population of only 1652 people11. The suburb is home to the state's highest earners, with over 35.5 per cent of residents earning a gross weekly income of more than $3,00012.

Peppermint Grove is a picturesque suburb bound by the edge of the Swan River and the Stirling Highway. The affluent postcode has been home to high-profile Australians such as the Packer family and actor Heath Ledger12.

References

1 Australian Bureau of Statistics 2012, 2011-2012 Housing Occupancy and Costs, viewed 17 June 2014, http://www.ausstats.abs.gov.au/Ausstats/subscriber.nsf/0/F7B1C824CA185E15CA257BD40015751E/$File/41300_2011-12.pdf, p. 45

2 Australian Bureau of Statistics 2012, 2011-2012 Housing Occupancy and Costs, viewed 17 June 2014, http://www.ausstats.abs.gov.au/Ausstats/subscriber.nsf/0/F7B1C824CA185E15CA257BD40015751E/$File/41300_2011-12.pdf, p. 17

3 Australian Bureau of Statistics 2014, 'Housing Finance - April 2014', viewed 16 June 2014, http://www.ausstats.abs.gov.au/ausstats/meisubs.nsf/0/C8DAB528E9EDF315CA257C98000C8653/$File/56090_jan%202014.pdf, p. 13 and 15

4 Australian Bureau of Statistics 2012, 2011-2012 Housing Occupancy and Costs, viewed 17 June 2014, http://www.ausstats.abs.gov.au/Ausstats/subscriber.nsf/0/F7B1C824CA185E15CA257BD40015751E/$File/41300_2011-12.pdf, p. 51

5 Australian Bureau of Statistics 2014, 'Housing Finance - April 2014', viewed 16 June 2014, http://www.ausstats.abs.gov.au/ausstats/meisubs.nsf/0/D766808C72A48A13CA257CEF0015381D/$File/56090_apr%202014.pdf

6 Chancellor, J, 11 June 2014, 'First home buyers fall back to record lows, Property Observer, viewed 16 June 2014, http://www.propertyobserver.com.au/financing/loans-and-mortgages/32178-first-home-buyers-fall-back-to-record-lows.html

7 Australian Bureau of Statistics 2014, 'Housing Occupancy and Costs - 2011-12', viewed 16 June 2014, http://www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/F7B1C824CA185E15CA257BD40015751E/$File/41300_2011-12.pdf

8 Your Investment Property 2014, Finding The Next Boom - Based On Rental Yield, viewed 17 June 2014, http://www.yourinvestmentpropertymag.com.au/market-analysis/finding-the-next-boom--based-on-rental-yield-120718.aspx

9 Your Investment Property 2014, Top Suburbs, viewed 17 June 2014, http://www.yourinvestmentpropertymag.com.au/top-suburbs/

10 RP Data 2013, National Media Release: RP Data Spring Buyer's Guide, 16th October, viewed 13 March 2014, http://www.rpdata.com/images/stories/content/pressreleases/rpdata-spring-buyers-guide-media-release-oct2013.pdf

11 Shire of Peppermint Grove 2014, 'Council', viewed 16 June 2014, http://www.peppermintgrove.wa.gov.au/your-shire/

12 Duke, J, 25 November 2013, 'A stroll through Australia's most expensive suburb, Peppermint Grove', Property Observer, viewed 16 June 2014, http://www.propertyobserver.com.au/finding/location/wa/27706-australias-most-expensive-suburb-peppermint-grove-wa.html

13 The Scots College 2014, 'Significant Buildings', viewed 16 June 2014, http://www.tsc.nsw.edu.au/upload/pages/history/significant-buildings_v2.pdf?1402655994

14 Australian Bureau of Statistics 2013, '5673.0.55.003 - Wage and Salary Earner Statistics for Small Areas, Time Series, 2005-06 to 2010-11', viewed 16 June 2014, http://www.abs.gov.au/ausstats/abs@.nsf/mf/5673.0.55.003

15 RealEstate.com.au 2014, 'Bellevue Hill', viewed 16 June 2014, http://www.realestate.com.au/neighbourhoods/bellevue%20hill-2023-nsw

16 News.com.au, 6 November 2009, ' Lachlan Murdoch buys Bellevue Hill property Le Manoir for $23m', viewed 16 June 2014, http://www.news.com.au/finance/real-estate/lachlan-murdoch-buys-bellevue-hill-property-le-manoir-for-23m/story-e6frfmd0-1225794860352

17 National Parks NSW 2014, 'Nielsen Park', viewed 16 June 2014, http://www.nationalparks.nsw.gov.au/Sydney-Harbour-National-Park/Nielsen-Park/picnic-bbq

18 Macken, L, 16 January 2014, ' You'll need more than $30 million for this Vaucluse waterfront', Domain, viewed 16 June 2014, http://news.domain.com.au/domain/real-estate-news/youll-need-more-than-30-million-for-this-vaucluse-waterfront-20140116-30w17.html

19 RealEstate.com.au 2014, 'Dover Heights', viewed 16 June 2014, http://www.realestate.com.au/neighbourhoods/dover%20heights-2030-nsw

20 Domain 2013, 'Suburb Profiles - Dover Heights', viewed 16 June 2014, http://www.domain.com.au/public/SuburbProfile.aspx?searchTerm=Dover%20Heights&mode=buy

21 1st City 2011, 'Suburb Profile - Dover Heights', viewed 16 June 2014, http://www.1stcity.com.au/Buying/Suburb-Profiles/Dover-Heights

22 RealEstate.com.au 2014, 'Toorak', viewed 16 June 2014, http://www.realestate.com.au/neighbourhoods/toorak-3142-vic

23 Waverley Council 2014, 'Tamarama: a brief history', viewed 16 June 2014, http://www.waverley.nsw.gov.au/__data/assets/pdf_file/0020/8750/Tamarama.pdf

24 Domain 2014, 'Suburb profiles - Tamarama', viewed 16 June 2014, http://www.domain.com.au/public/SuburbProfile.aspx?suburb=Tamarama&postcode=2026&mode=buy

25 Domain 2014, 'Suburb profiles - Vaucluse', viewed 16 June 2014, http://www.domain.com.au/public/SuburbProfile.aspx?suburb=Vaucluse&postcode=2030&mode=buy

26 Domain 2014, 'Suburb profiles - Double Bay', viewed 16 June 2014, http://www.domain.com.au/public/SuburbProfile.aspx?mode=buy&searchterm=double%20bay

27 Destination NSW 2014, 'Double Bay', viewed 16 June 2014, http://www.sydney.com/destinations/sydney/sydney-east/double-bay

28 RealEstate.com.au 2014, 'Kirribilli', viewed 16 June 2014, http://www.realestate.com.au/neighbourhoods/kirribilli-2061-nsw

29 Domain 2014, 'Suburb profiles - Kirribilli', viewed 16 June 2014 , http://www.domain.com.au/public/SuburbProfile.aspx?mode=buy&searchterm=kirribilli

30 The Australiana Fund 2012, 'Kirribilli House', viewed 16 June 2014, http://www.theaustralianafund.org.au/houses/kirribilli-house.html

31 RealEstate.com.au 2014, 'Dalkeith', viewed 16 June 2014, http://www.realestate.com.au/neighbourhoods/dalkeith-6009-wa

32 Domain 2014, 'Suburb profiles - Dalkeith', viewed 16 June 2014, http://www.domain.com.au/public/SuburbProfile.aspx?mode=buy&searchterm=dalkeith