4130.0 - Housing Occupancy and Costs, Australia, 1997-98
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 15/10/1999
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Australia's high home ownership continues - ABS
Seven out of every 10 of Australia's 7 million households were living in homes they either owned outright or were paying off in 1997-98, according to figures on housing occupancy and costs released today by the Australian Bureau of Statistics (ABS).
Sydney had the highest housing costs with households who had a mortgage paying an average of $269 per week, while private renters were paying an average of $210 per week. Meanwhile Hobart had the lowest housing costs ($142) for purchasers and ($129) for private renters.
Sydney homes also had the highest median reported value ($251,000), 19% higher than in 1995-96. Median values for homes in Melbourne, Brisbane, Perth and Canberra were about $100,000 less than those in Sydney. Adelaide and Hobart had the lowest values ($116,000 and $117,000 respectively).
Over one million households purchased a home in the three years prior to 1997-98. The majority of these households (58%) were changeover buyers and they purchased more expensive homes than first home buyers ($161,000 compared with $124,000). The average age of first home buyers was 33 years compared with 47 years for changeover buyers.
Nearly 80% of recent home buyers bought established homes which were less expensive than new homes ($135,000 compared with $165,000). These established homes were, on average, slightly smaller (3.0 bedrooms compared with 3.3).
Nationally, households still paying off mortgages had average housing costs of $205 per week (or 18% of their income in housing costs). Households paying rent to private landlords paid $157 per week (20% of their income) and households renting from a State or Territory housing authority paid $63 per week (17% of their income). Owners who had paid off their mortgage paid an average of $21 per week or 3% of their income.
The publication Housing Occupancy and Costs, Australia found that life-cycle stages and income impacted most on housing costs:
More details are in Housing Occupancy and Costs, Australia (cat. no. 4130.0) available from ABS bookshops in all capital cities. The ABS encourages media organisations with online news services to link to the main findings. Please phone us if you need assistance to do this.
CAPITAL CITY HOUSEHOLDS, Income and Housing Costs by Tenure Type and Capital Cities
* Relative standard error of 25% to 50%.
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