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  • Writer's pictureDavid James Connolly

Housing affordability at lowest level in 30 years, data shows



Housing affordability is now at its worst level in at least three decades, driven by the sharp rise in mortgage rates and increasing home prices, a new report has found. People looking to buy a house in New South Wales, Victoria or Tasmania will have the toughest time finding something in their price bracket. A typical-income household could only afford 5 per cent of homes sold in Tasmania in the past year — the lowest in the country.




Housing affordability is now at its worst level in at least three decades, driven by the sharp rise in mortgage rates and increasing home prices, a new report has found. The data comes from PropTrack, the analytics division of REA Group, which analysed affordability and accessibility across different household income distributions, locations, and ages. People looking to buy a house in New South Wales, Victoria or Tasmania will have the toughest time finding something in their price bracket. A typical-income household could only afford 5 per cent of homes sold in Tasmania in the past year — the lowest in the country.




Rental costs are soaring, but not just in Australia. Our reporters are criss-crossing the globe to find out what’s going on. Armed with 30% of the median household income, we’re challenging them to find the best apartment they can in their city, without blowing the budget.

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