{{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location {{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change locationRegional affordability deteriorates faster than capital cities
Regional affordability deteriorates faster than capital cities
Member and guest login
Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Forgotten password
Need some help?
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If the email address you have entered is registered, you will receive an email with further instructions.
Become part of the HIA community
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Create a guest account
Enter your details below and create a login
HIA’s Affordability Index is calculated for each of the eight capital cities and regional areas on a quarterly basis and takes into account the latest dwelling prices, mortgage interest rates and wage developments.
“Affordability deteriorated across all states and territories, including both the capital cities and their surrounding regions,” added Mr Devitt.
“Over the past two decades, housing affordability was a greater challenge in Sydney and Melbourne than the rest of the country. Yet since the pandemic began it is the rest of the country that has seen a faster deterioration in affordability.
“This is not surprising given the rapid exodus of population out of Sydney and Melbourne to other states and regions.
“The number of people who left Sydney and Melbourne in the last year was tens of thousands more than the number of people who arrived. This is not unusual for Sydney but was a uniquely damaging development for Melbourne.
“In addition to this, Sydney and Melbourne suffered disproportionately from the closure of international borders and the associated loss of overseas migrant, student and tourist arrivals.
“This is why the deterioration in housing affordability was most acute outside of Sydney and Melbourne.
“Despite this deterioration, housing is still broadly more affordable than the average of the past 20 years, due to the record low interest rates making it easier to service a typical mortgage,” concluded Mr Devitt.
The most significant deterioration in affordability in the capital cities occurred in Hobart, with an 18.7 per cent decline in 2020/21. This was followed by Darwin (-13.0 per cent), Canberra (-10.2 per cent), Adelaide (-8.7 per cent), Brisbane (-6.3 per cent) and Perth (-5.5 per cent). Affordability in Sydney and Melbourne declined by just 3.3 per cent and 3.8 per cent respectively.
Across the regions, regional New South Wales saw the biggest deterioration in affordability in the nation, down by 22.8 per cent over the year. This was followed by regional Tasmania (-13.6 per cent), regional Queensland (-10.3 per cent), regional Northern Territory (-8.6 per cent), regional South Australia (-8.1 per cent), and regional Victoria (-6.5 per cent). Regional Western Australia saw the smallest deterioration, with affordability declining by just 0.6 per cent for the year.
For further information please contact:
Support for local manufacturing critical for delivery of home building targets
“The Housing Industry Association (HIA) is backing calls for a dedicated energy security and supply plan to support Australia’s building product manufacturing sector, acknowledging their critical importance to our economy and providing the essential products for our homes,” HIA Chief Executive – Industry and Policy, Simon Croft, said today.
Green shoots on clearing EPBC housing backlogs
“The Housing Industry Association (HIA) welcomes the announcement of over 4,600 new homes approved for construction under the national environmental laws, since August this year,” said HIA Chief Executive, Industry and Policy, Simon Croft.
HIA launches inaugural Safety Summit in Newcastle
October marks the beginning of National Safe Work Month – a time for us all to pause, reflect, and reinforce our commitment to creating a safe and healthy workplace for everyone,” said HIA Hunter Executive Director Craig Jennion.
Managing psychosocial hazards and risks at work
The Victorian government has introduced changes to OHS regulations that expressly requires employers to identify psychosocial hazards and how they intend to manage the risks to health and safety.