Australian Bureau of Statistics

Rate this page
ABS Home > Statistics > By Release Date
ABS @ Facebook ABS @ Twitter ABS RSS ABS Email notification service
4130.0.55.001 - Housing Occupancy and Costs, Australia, 2002-03  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 23/02/2005   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product


February 23, 2005
Embargoed: 11:30 AM (AEST)
Mortages Up And People Borrowing More: ABS

More owner-occupied dwellings had a mortgage or loan secured against them in 2002-03 than seven years ago, and the average level of these borrowings had risen, according to figures released today by the Australian Bureau of Statistics (ABS).

From 1995-96 to 2002-03:
  • The proportion of owner-occupied dwellings with a mortgage or loan secured against the property increased from 40% to 48%.
  • The median amount of mortgages outstanding was over one-third higher in real terms (CPI adjusted) - up 37%, to $96,000.
  • Median dwelling values increased in real terms by 52% to $250,000.

The average weekly payment for a housing-related mortgage plus property rates was $246 (or 17% of mortgagee households' average income in 2002-03). In real terms (CPI adjusted), the weekly payments in 2002-03 were only 2.5% higher than seven years earlier, due in part to a decline in interest rates substantially offsetting increases in mortgage values.

Of the capital cities, Sydney households paid the highest private rents ($260 per week) and the highest housing-related mortgage payments ($330 per week). Including households that owned their homes outright, Sydney's average housing costs were $185 per week. Sydney also had the highest median dwelling value ($430,000).

Hobart's average housing costs were the lowest of the capital cities at $95 per week, reflecting relatively low mortgages and rents as well as higher rates of outright home ownership. Hobart had the lowest median dwelling value ($150,000).

Other results from the Survey of Income and Housing were:
  • Almost 1.2 million households had purchased their home in the three years prior to 2002-03, with over one-third (36%) being first home-buyers.
  • The median price paid by first home-buyers was $200,000, compared to $280,000 paid by change-over buyers.
  • The majority (78%) of recent home buyers bought established homes, with a median price of $235,000. The median price for recently bought new dwellings was $280,000.
  • Households renting privately paid an average rent of $189 per week, up 7% in real terms since 1995-96 and accounting for 20% of their income. Those renting in public housing paid $81 per week, up 11% in real terms and accounting for 18% of their income.
  • New homes continued, on average, to be slightly larger than established dwellings (3.4 bedrooms compared to 3.1 bedrooms).

Further information is in Housing Occupancy and Costs, Australia (cat. no. 4130.0.55.001).

Bookmark and Share. Opens in a new window

Commonwealth of Australia 2016

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.