Housing Affordability Snapshot
Housing affordability continues to be a topic dominating headlines in Australia.
On the heels of CoreLogic’s initial report analysing the housing affordability issue, we are currently compiling a supplement with insights obtained from surveying consumers on their views on housing affordability.
While we compile the comprehensive report from the rich information we have obtained, we wanted to share a few high level findings:
- The dream of home ownership was resoundingly endorsed by 89% of respondents; and with 62% saying affordability is worse than a year ago – the degree of intensity in the current debate is not surprising.
- Pessimism is evident in the millennial demographic with over 1 in 5 expecting to remain locked out of the property market until at least their 30th birthday.
- And in terms of our home buying preferences, we love our locality and prefer to compromise on our home attributes than move away or interstate.