Here is more depressing information on the housing/rental crisis in Australia. First, the latest Finder research has indicated that for Australians to buy a home they will need double the average full-time salary. The minimum household income required to front the mortgage for the average Australian house is $182,000, and those owning units need about $130,000. However, the average full-time salary is around $96,000 and not all of that can be spent on a mortgage, and there is a massive cost of living problem tossed in.
Second, there is the interest rate rise, so for example, borrowers with a $590,000 mortgage will be paying an extra $1345 a month compared to last year. This alone is crushing many families.