Housing stress revealed
Figures from the latest census have revealed that there are over 775,000 households that live with ‘housing stress', defined as having more than 30 per cent of their income committed to housing costs, whether renting or buying. More households in Sydney fall into this category than any other city with just under 27 per cent. In Melbourne and Brisbane this drops to 22 per cent, in Perth 20.7 per cent and Canberra is lowest at 16.6 per cent. The percentages are higher in inner-city areas which BIS Shrapnel says indicates large numbers of low-income apartment renters and less long term residents who already own their home outright.