Stable housing costs all round
Housing costs are pretty stable overall, at least over the two years to 2015/16, or so an iconoclastic data set from the Australian Bureau of Statistics on Friday shows.The ABS said that, between 2013/14 and 2015/16, housing costs for owners with a mortgage "remained stable in real terms at an average of A$452 a week in 2015/16."For renters, housing costs "remained stable at $350 per week in 2015/16."For those households renting from a private landlord, there was no change in real terms, at $381 per week in 2015/16."On the other hand, "rents for those renting from state and territory government housing authorities increased by ten per cent in real terms, at $167 per week."The ABS said that "on average, households continued to spend 14 per cent of their gross weekly income on housing costs in 2015/16. This has not changed since 2009/10."For home owners with a mortgage, "the proportion of gross weekly income spent on housing costs remained stable at 16 per cent in 2015/16, after having fallen from 18 per cent in 2013/14,"the ABS said."Renters continued to spend 20 per cent of their gross income on housing costs in 2015/16."The ABS said home ownership levels also remained stable from 2013/14 to 2015/16, "with 67 per cent of households owning their home, either with or without a mortgage. Of all households, 30 per cent owned their home without a mortgage, while 37 per cent of households had a mortgage secured against their dwelling."