Housing Affordability Hits Record Low in Australia: Report

Families are spending almost half of their income just to pay for house loans, the highest since records began in 1996.

Two bricklayers work on a new home in Albany, Western Australia, on July 5, 2024. Susan Mortimer/The Epoch Times

Housing affordability in Australia has plummeted to its lowest level since records began in 1996, with families now spending nearly half their income on loan repayments.

A new report revealed that the proportion of median family income required for average loan repayments surged to 48.6 percentage points, up by 0.4 percent from the previous quarter.