Real Estate News

Census overview 2016: home ownership declining and renting on the rise

Census data released yesterday revealed Sydneysiders spend the most on rent and mortgages in the country and, unsurprisingly, Sydney is the most expensive city to live in.

The data shows that homeownership rates continue to decline, with a big shift in the proportion of people renting: 31 per cent of Australians owned their own home outright in 2016, compared to 41.1 per cent in 1999.

Following the same trend, residents with mortgages make up 34.5 per cent of the population, up from 27.5 per cent in 1991.

Sydneysiders and Darwin residents have the biggest mortgages in the country, with median repayments of $2,200 per month. Canberra follows with $,2100 per month, followed by Perth at $1,950 and Brisbane at $1,800; Melburnians pay $1,750, while those in Adelaide pay $1,500, ahead of Hobart with $1,450.

Meanwhile, the proportion of renters has jumped to 30.9 per cent, up from 26.9 per cent 25 years ago.

Renters pay an average of $440 per week in Sydney, followed by Darwin with $420 and $350 in Melbourne.

Most Australians live in separate houses, with 73 per cent of the population living in this type of property, while semi-detached, town-houses, flats and apartments increased to make up 26 per cent of housing.

Sydney remains the most expensive city for more people than anywhere else in Australia, with 14.2 per cent of residents spending more than 30 per cent of their incomes on rents. This is despite the fact that NSW residents have a median income of $664, significantly lower than the median income of ACT with $998, the Northern Territory at $871 and WA at $724.

Other trends revealed by the 2016 Census show Australians are getting older, more culturally diverse and less religious.

The ABS described the country’s diversity reaching “a tipping point”, with 49.3 per cent of the population now either born overseas, or born to parents who were born overseas. Almost 51 per cent described themselves as “third-generation” or more. The average Australian is a 38-year-old female born in Australia, who speaks English, is married, living in a capital city and earning $662 a week.


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Azal Khan

Azal Khan was a in-house features writer for Elite Agent Magazine.