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.

 

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About CoreLogic

CoreLogic Australia is a wholly owned subsidiary of CoreLogic (NYSE: CLGX), which is the largest property data and analytics company in the world. CoreLogic provides property information, analytics and services across Australia, New Zealand and Asia, and recently expanded its service offering through the purchase of project activity and building cost information provider Cordell. With Australia’s most comprehensive property databases, the company’s combined data offering is derived from public, contributory and proprietary sources and includes over 4.4 billion decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information.

With over 20,000 customers and 150,000 end users, CoreLogic is the leading provider of property data, analytics and related services to consumers, investors, real estate, mortgage, finance, banking, building services, insurance, developers, wealth management and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and geo spatial services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. CoreLogic employs over 650 people across Australia and in New Zealand. For more information call 1300 734 318 or visit www.corelogic.com.au.

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