Unaffordable housing is the main driver of
social unrest in Australia. It causes mental and physical ailments and
if not rectified, future living conditions will deteriorate, and social
unrest will worsen.
This was not the case in the 1950's-1960's. The cause of this decline is mismanagement and greed. Causing inequality and disharmony within our society.
12 million wage earners are unable to purchase a home and have well-being in life.
The stressful existence of day to day housing expenses is a reality and if our society does not change perceptions of this reality, we will see a continuing decline for future generations.
Click on the graphic above for a comprehensive analysis, together with the changes necessary and solutions. Or click below.
"Australia's Growth of Unaffordable Housing"
It is only with the participation of each member of our society that change will be created.
2013 - Approximately 12 million wage earners earn a median annual wage of approx. $60,000 - 50% earn less and 50% earn more than $60,000 but less than $100,000. Only 5% earn over $100,000pa.
During the 1950’s-1960’s houses cost 3 times the average annual wage.
Today, this equates to a house should cost under $200,000. Their repayments were just 25-30% of their weekly wage. Today, for a person to purchase a $450,000 house and land package, they would have to earn $121,000 per annum to achieve a repayment weekly value of 30%.
For a wage earner on $60,000pa to purchase a house and land package for $450,000 their repayments would be $670.00 per week or nearly 60% of their weekly salary (6% interest rate) They would also have to have saved over $50,000 before purchase.
During the 1950’s-1960’s, there was virtually full time employment.
Today, just 70% are full-time, while the part-time workforce has increased from 15% to 30%, and work an average of only 16 hours per week. In 1978 only 5% of men worked part-time - today 17% of men work part-time and increasing.These details do not provide a positive picture for Australia’s society in the future - It has to change.
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