4130.0.55.001 - Housing Occupancy and Costs, Australia, 2005-06  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 31/10/2007   
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MEDIA RELEASE
October 31, 2007
Embargoed 11.30 am (AEDT)
113/2007

Housing occupancy and costs

The number of homes that are owned outright by their occupants has decreased over the last decade, according to a report released today by the Australian Bureau of Statistics (ABS).

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.

More information can be found in Housing Occupancy and Costs, Australia, 2005-06(cat. no. 4130.0.55.001).