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

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

Archive