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

Australia's Capital Cities

Thursday, July 09, 2015

AUSTRALIA’S CAPITAL CITIES: GROWTH, CHANGE & A FUTURE FORECAST

CAPITAL CITIES

Over 66% of Australians live in the greater metropolitan area of Australia’s 8 capital cities with Sydney being the largest (around 4.9 million), followed by Melbourne (4.5 million). Darwin is Australia’s smallest capital city, with a current population of around 144,000. The nation’s capital, Canberra, has a population of 394,000, larger than Darwin and Hobart combined.

The title of fastest growing city is held by Perth which has recorded 3.05% per year for the past 5 years whilst Hobart has the lowest rate of growth of only 0.67% per year over the same period. Sydney and Melbourne recorded growth of 1.5% and 1.95% per year over respectively.

In terms of population increase, Melbourne comes up on top with an increase of 95,655 people in the last year while Hobart only had an increase of 1,247 people in the same period. In fact Melbourne is growing by more people every 5 days than Hobart adds in an entire year. Sydney recorded an increase of 84,230 people in the last year and based on this increase will be Australia’s first city to reach 5 million, a milestone it will achieve by the middle of 2016.

However, at a state level there have been significant changes over the last 3 years in the population growth rate across Australia. Western Australia, which was the fastest growing state has seen this annual growth rate more than halve from a peak of 3.68% in 2012 to just 1.58% currently. Over the same period of time, Queensland’s growth has also declined significantly from 2.0% to 1.37% now, while Victoria’s consistent population growth rate of 1.75% makes it the fastest growing of any Australian state or territory.

Sydney has a population approximately 400,000 larger than Melbourne’s but Melbourne is growing by over 10,000 more people than Sydney year on year. Assuming medium levels of fertility, overseas migration, life expectancy, and interstate migration flows, Melbourne will take Sydney’s title of Australia’s largest city in 2053 with both cities expected to reach a population of 8 million in 2055.

Perth’s rate of growth will see it overtake Brisbane in 2029 when they both have a population of just over 3 million. They currently have a population of 2.1 million and 2.3 million respectively.

OTHER SIGNIFICANT URBAN AREAS

The Gold Coast – Tweed Heads area has the largest population outside of the capital cities (almost 630,000) and also registered the largest increase in number of residents in 2009 to 2014. The 2nd largest urban area is the Newcastle – Maitland area but the Sunshine Coast had the 2nd largest increase in population even though they are ranked 4th in terms of population size. The City of Dubbo, with a population of 36,622 is the smallest of Australia’s significant urban areas.

Launceston recorded the lowest smallest rate of population increase between 2009 and 2014, growing by only 0.35% per year but they are ranked 13th in overall population, out of 32 significant urban areas. The Traralgon – Morwell area was the only area to experience a population decline with a decrease in population of 28 between 2013 and 2014.

On the other end of the scale, Ellenbrook is the fastest growing urban area by far, recorded growth of 8.35% per year between 2009 and 2014 followed by Melton which recorded growth of 5.32% per year over the same period.

AUSTRALIA'S CAPITALS: POPULATION PROJECTIONS

Sydney

  • Reach 5m in 2016, 6m in 2029, 7m in 2042, 8m in 2055
  • Average annual growth from 2016-2056 = 1.23%

Melbourne

  • Reach 5m in 2021, 6m in 2032, 7m in 2043, 8m in 2055
  • Average annual growth from 2016-2056 = 1.44%

Brisbane

  • Reach 3m in 2028, 4m in 2047
  • Average annual growth from 2016-2056 = 1.6%

Adelaide

  • Reach 1.5m in 2027
  • Average annual growth from 2016-2056 = 0.83%

Perth

  • Reach 3m in 2028, 4m in 2042, 5m in 2055
  • Average annual growth from 2016-2056 = 2.14%

Hobart

  • Reach 250,000 in 2034
  • Average annual growth from 2016-2056 = 0.47%

Darwin

  • Reach 200,000 in 2048
  • Average annual growth from 2016-2056 = 1.08%

Sydney vs Melbourne

  • Melbourne will overtake Sydney for the title of largest Australian city in 2053

Brisbane vs Perth

  • Perth will overtake Brisbane for the title of 3rd largest Australian city in 2029

*Data assuming medium levels of fertility, overseas migration, life expectancy, and interstate migration flows.

Sources: ABS, McCrindle

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

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

Archive