It is fairly well known that over the past decades, home ownership rates have fallen, while the proportion of Australians renting has increased. This shift has also seen changes in the dwelling stock composition of Australia, with an ever-increasing share of households living in apartments and medium density dwellings as apartments are relatively more affordable and often in more desirable locations.Today, we wanted to dive deeper into the data to reveal the factors affecting rental rates across the country. Those familiar with the metropolitan areas of Australia are likely aware of the impact of the property investment industry, rising living costs and the need for…
Author: Anna Chan
If you have been keeping with the news, you may have seen the 2023 release of the Intergenerational Report, a document summarising economic outlooks and Australia’s budget over the next 30 years. One of the major challenges identified is Australia’s ageing population, an issue which has sparked significant discussion in the media with concerns that even with superannuation, retirees will still not able to cover living expenses.According to AMP’s 2022 Financial Wellness report, 21% of working Australians are not confident that they have the funds to live at their desired lifestyle in 2022, up from 17% in 2021.While we acknowledge the challenges of the situation…
Welcome to the second instalment of our Empty Suburbs series, where we will be taking a look at the suburbs and localities with the highest vacancy rates as of the 2021 Census. For this instalment, we will be exploring Victoria.From our last episode where we covered New South Wales, we found that the highest vacancy rate suburbs are along the Central Coast and the Inner City. Rather than just commenting on the phenomenon of high vacancies, we will also be highlighting the comparison between Victoria and New South Wales and the impacts of COVID-19 on Victoria’s dwellings. Do we see similar trends in Victoria? Are…
With current talks of a housing crisis, there have been discussions around rent freezes, incentives to increase supply of housing or slowing down the intake of overseas migrants. But one factor which is not often discussed is Australia’s use of unoccupied dwellings.So today, we ask the question – where are the unoccupied dwellings and why are they unoccupied? Are they significant in talks around the cost of living?Starting with New South Wales, we will be using 2021 Census data to determine which suburbs have the highest vacancies and examine how this phenomenon changes across localities. But before we jump into the list, let’s first talk…