Housing Affordability in NSW [infographic]

Monday, January 30, 2017

We’ve all heard about the difficulty of buying into the housing market in recent times and the subsequent decreases in home ownership rates (in NSW, from 68% in 2004 to 63% in 2014). With less people able to afford a home in the current market, there have been increases in the numbers of people looking to rent in New South Wales, and particularly Sydney.

We were delighted to be commissioned by Churches Housing and Shelter NSW to uncover the story of rental unaffordability in New South Wales. Through this research, we discovered that finding an available, affordable rental property is becoming increasingly difficult, particularly for those in the bottom 20% of income earners.

The decrease in the availability of rental properties over the last decade or so, has been influenced by a number of factors. Rental prices have increased due to the increased numbers of people looking to rent, and in past decades, rental prices have grown faster than income.

The infographic particularly highlights the difficulties for the bottom 40% of income earners in looking for appropriate rental properties. The term ‘rental stress’ is used to describe those in the bottom 40% who are spending over 30% of their income in housing costs. In 2013-14 NSW had the highest proportion of low income households experiencing rental stress, at 76% (compared to 68% nationally). For these households, rental stress can impact on other areas of life, including health care, schooling, diet and in the worst case can sometimes lead to homelessness. 


A Snapshot of Australia's Housing Market

Monday, August 01, 2016

Owning a home is the great Australian dream, but with 30% of Australians renting, could our love affair with bricks and mortar be turning sour? Our Aussie states go head to head as we compare affordability for buyers and renters.

How many Australians own their home outright and how many have a mortgage?

2 in 5 (40%) Australians are trying to own their own home and slowly pay it off, with the smallest category of all, 28%, being lucky enough to have paid off their home in full.

How do the capital cities compare when it comes to renting an apartment?

As you would expect, Sydney ranks as the most expensive city, costed at about $500 per week for your average apartment. Amazingly, Darwin is up there as well due to more more demand than supply and with not the same investment in stock. Meanwhile, if you move down to Hobart, it is almost half that, paying about $270 per week, and Adelaide not much beyond that at $370.

What if you are looking to buy a home, how much is that?

Sydney is still leading Australia by a long way with almost a $1,000,000 median house price. A distant second is Melbourne, at over $800,000. If you look down to Hobart, the median house price is $357,000, so that means using the money spent on a home in Sydney, you could buy about 3 homes in Hobart – and a pretty good lifestyle down there as well.

Looking at Australia as a whole, what is the percentage of apartments to houses?

About 3 in 4 Australians live in a detached home, so that’s traditionally been the Aussie dream. Then you have about 14% who live in apartments and 10% in townhouses. We are starting to see a change though, with a quarter of Australians now living in medium to high density housing. At the moment if you look at new housing approvals, it's 1 in 3, so it has gone up. If you look at Sydney and Melbourne, 2 in 3 new housing approvals are in medium to high density living. So we are starting to get more densified, with an increase in vertical communities compared to the more traditional horizontal ones, and that’s where we are headed in the future.

Watch Mark's full interview on The Daily Edition here

The Optus Renter of the Future Report

Monday, January 11, 2016

We were delighted to have been commissioned by Optus to uncover the attitudes, behaviours and technology trends of Australian renters, to develop the Renter of the Future Report. This national research has been launched in partnership with Optus and their Home Wireless Broadband Internet offering, and revealed some interesting insights into who is renting, what defines their situation and what they are looking for in a rental property.

The report highlights that 3 in 10 renters are 'choice renters'. “There’s this idea that the great Aussie dream is to move into a home that you own and if you haven’t done that then the dream hasn’t come true for you. But with generational change that’s just not true. You’ve got a lot of people who are the choice renters because they prefer the lifestyle. And they themselves might be landlords so financially they’re rocketing ahead." - Mark McCrindle.

30% of Australians rent - that's more than own their own home outright and they are twice as likely to be living in medium and high density housing than the average Australian, are almost years younger, and move much more frequently - on average every 1.8 years.

Renters are also tech-savvy, the study showed. “Renters comprise nearly a third of Australian households. For the modern Aussie renter technology underpins and has become completely fused with their lifestyle. This group is among the first to jump onto new technologies, keeping abreast of the latest trends and, where possible, the latest devices. Accessing the internet quickly from their new rental property is a must for them." - Mark McCrindle.

Highlighting the lifestyle aspects that Australians renters seek, the top 3 best things they like about renting are:

  1. The ability to change locations easily (38%)
  2. Easier to upsize or downsize as needed (24%)
  3. Flexibility to travel for extended periods of time (18%)

When asked to list their top five lifestyle features in a home, Aussies revealed what is most important to them in a rental property:

  1. Parking (38%)
  2. Pet-friendly (32%)
  3. Cable internet (31%)
  4. A strong mobile signal (25%)
  5. Number of power points in a room (22%)

Find out more about the findings of the study in the below infographic:


This research in the media


Welcome to our blog...

We have a passion for research that tells a story, that can be presented visually, that brings about change and improves organisations. And we hope these resources help you know the times.

Our Social Media Sites

Facebook | McCrindle Research Social Media YouTube | McCrindle Research Social Media Twitter | McCrindle Research Social Media Flickr | McCrindle Research Social Media Pinterest | McCrindle Research Social Media Google Plus | McCrindle Research Social Media LinkedIn | McCrindle Research Social Media Mark McCrindle Slideshare


Last 150 Articles


Tags

future poker master collaborative house price facts world twentyseventeen bus unaffordable millenials going out office space australia criminal rent baby name optus my business awards mining boom train Wellington staff DIY workplace Caregiver global education future report pharmacy Skilling professional contiki greatness education sector snapshot royal influence pharmacies community engagement ACF Northern Territory research services internet eliane miles capital cities sydney metro aged care geomapping media city national private wealth infographic research visualisation christmas group Financial Planning Association of Australia shifts income small business life church generation alpha breakfast Generation Y financial fresh English resource hills shire Generation X moderators guide mccrindle tea optus office medicine know the times graphs non profit event residents cultural diversity friends village recap earn communities NBRS transport Scouts researcher NT land of the middle class Northern Beaches names social shifts unemployment professional speaker men house prices JOMO baby names report cooking celebration communicate social life goal Word Up sunny days princess charlotte census results intern outsourcing media activity perth national wealth women insights financial independence baby names australia report dreaming australian social research Financial Planning Association 2015 1980 demographic transformations environment annual income housing market generations 24 million hobart forecasting deloitte typical australian rain optimistic Mark McCrindle identity urban taskforce hello fresh energy cars trades tea mythbusters growing population future proof ultimo office opening social impact hopes Christchurch megatrends property price generation Z 2016 census darwin priorities James Ward car divorce rate social enquiry eliane tv royal baby global financial crisis christianity organisational culture social lives ageing population travelling social researchers cost goals jobs of the future moreton bay post rationalism experience Hornsby Shire Council keynote speaker data visualisation professional development 2014 family local communities demographic seasons HSC qualitative research media release IT Specialists panel Assistant Store Manager culture digital WA australian communities forum gold coast TDE New Zeland weather Australia Day communication 24,000,000 belief mother's day housing responsive wealth and income living relevant demographic trends suburb social analysis mateship 2016 trends personal growth winter property market society trends NBRS Architecture ipswich Queensland consumer coffee McCrindle Speakers australian communities trends report "know the times" learning christian balance case study winter blues fears the hills Australia Day 2017 shopper's pick Tuesday Trend mover and shaker marriages Deaths prince george financial fears #censusfail ease of travel results baby boom Education Future Forum travel Social Trend employment father's day royal family challenge ACT Royals plans menai school townhouses 23 million Adelaide innovative Wodonga focus groups property work mates society faux-cilise leader home research report children keynote neutral bay brand teach grandparents public speaker careers dare to dream gen z families customer future of work happiness rising house prices public speaking teachers System's Architect Sydney keynote speaker tattoos EFF skills trends of 2016 population norwest aged care puzzle wealth national crime rates baby name trends social change cancelling event DESTEL builders Australian Trends Res Vis the average aussie apartment Australians finance schools debt states jobs social issues mccrindle high density apartments news Tasmania low density friendship Wagga Wagga sector sydney event urban living youth households suburban living story professional services Love storytelling capital city sentiments omnibus faith daily commute crows nest real conference presentation mythbusting university degree bureau gender litter shbc narcissism wolloomooloo Western Australia leadership mentor marketing young people 1975 Australian demographics Tuesday Trends proactive housing affordability growth forum student australians staying home more sydney speaker supply and demand local pyrmont ashley mckenzie changing face of sydney NSW staying in buildings potts point entrepreneurs of today media commentary social commentary Gen Y award conferences 2012 ACF 2016 the australian dream community event teacher Sydney divorce employers Territory young australians shopping PSI education 2013 survey design Australian communities daily telegraph Crime Rates brand experience huffington post organisations workshop sydneycity royal mobile high density living trends of 2017 education future gen alpha spend follow social researcher conference population milestone students wellbeing government overcast business tertiary education aussie culture holiday meals Northern beaches Event February 16 internship politics Valentine’s Day alpha socialites baby boomers emerging generations cash speakers educhat faux-ciliser work-life lalor park Australian schools social media manly household baby name predictions award winner presentation product The ABC of XYZ world youth day couple consumerism FOMO 10 years VET the hills shire salary participants quote Netflix socialising rise of local Aussie affordability futurist clothing future proofing program Vocational education analysis future-proof define school students cancel plans weekly earnings in depth interviews water paying to work Real Estate easter long weekend motivate dessert school satisfaction census new york times 2020 thought leadership cost of living domestic population map investment collaboration study stats Australian Population financial dreams teleworking grave decision google monarchy sustainable financial future presentations online commute social research area entertainment Australian Bureau of Statistics demographer workforce technology crime conference speaker not for profit rental stress ferry forecast communications anzac thrive slideshare personalities Geoff Brailey events interactive REIV Conference high school baby names sydney hills marriage trend tuesday spirituality Christmas presents budget economy house price rise South Australia census fail engage training year 12 Aussies victoria logan demographics Births urban living index stay home language in the media REIV National Conference earning state Macquarie University retirement schools students workplace culture charity list Kirsten Brewer tableau Kiwi safe easy rider marrickville statistics focus group learn authenticity religion Charlotte curiosity house Australian Home Merry Christmas lifestyle home owner TAS survey Hills Shire Council Bathburst brands generation market research teaching visual selfie career economic future of education dream food visualisation infographic wall cartodb group session vegetarian urban trends analyst poor relational engagement blaxland Financial Planning Week rich work research data repayments mccrindle in the media baby research nfp education research rule keeper click wage Melbourne Northern Beaches Christian School video community volunteers faux-cilising ashley fell emerging trends generational trends high density hornsby cancelling plans business index year 7 the changing face of ideas change home ownership business performance healthy future VET sector 1994 not-for-profit research pack offenders ageing internships sports publication Myth holidays cloudy days census 2016 culturally diverse trend wedding debate housing trends kate middleton parenting innovation Canberra New South Wales Australian Communities Trends sun 1968 Christmas season report ethnography leadership workshop wealth and income distribution Australian Census Engineering Manager Channel 7 FPA learning styles Sydney Hills Business Chamber social bondi SMSF equip entrepreneurial tuesday child care social trends 2016 census results SA CBD global generations data summer renter of the future mccrindle research sunburnt country commuters educated entrepreneur toys average aussie mortgage resilience public holiday 40 million acf15 investor 2017 university Population Clock youth unemployment earnings suburbs millennials Do It Yourself January 26th cold data analyst vegemite middle class emerging technologies Australian Families wealth distribution GPO owning a home investing google for education etiquette population growth SMART social commentator online shopping NEETs Channel Seven sector wide Research Executive newspaper wages Gen X sydneysiders brisbane Australian Dream Queensland: QLD increasing densification new office tips Work place environmental scanning learner VIC insight woolworths affordable The Daily Edition meetings World Water Day ABS Duchess of Cambridge Andrew Duffin millionth Christmas lunch renting waverton Real Estate Institute of Victoria sector wide study New Zealand parents housing growth networking

Archive