ANZ CoreLogic Housing Affordability Report 2024

The ANZ CoreLogic Housing Affordability Report is a guide to the main trends and drivers of housing affordability across Australia.

This edition of the report looks at the ongoing deterioration in housing affordability. In the past few years, a rapid increase in housing costs (mortgages and rents) means the proportion of income required to service rents has shifted to the 30 per cent range from the mid-20 per cent range for median income earners in most parts of the country.

The report also looks at the vulnerability of low-income earners, where 25th percentile rent values have increased faster than at the median (50th percentile) and high end of the market. In fact, the 25th percentile rent in Australia has risen $53 a week in the past year, almost fully absorbing the $48 increase in minimum wages set by the Fair Work Commission.

Mortgage serviceability has also deteriorated as home values have continued to increase, even in a high interest rate environment. Around 37 per cent of properties would be serviceable for buyers spending 40 per cent of Australia’s median income, compared to 17 per cent of properties using 30 per cent of median income.

You can download a copy of the full report and view a list of the report’s coverage below.

Download Report