Housing affordability has declined by 4.8 percent over the past five years, according to PRDnationwide.
Analysis of census data shows that in 2006 the national average weekly mortgage repayment was $325 and national median weekly household income was $1025.
Meanwhile, in 2011 the national average weekly mortgage repayment was $450, an increase of 38.5 percent and the national median weekly household income increased by 20.4 percent, to $1234 per week.
According to PRDnationwide, the Northern Territory offers the most affordable dwellings, where despite having the nation’s highest weekly mortgage repayment (at $515), there has also been a substantial increase in household earnings over the past five years (41.7 percent).
Individual median weekly income increased by 23.8 percent over the period to $577, while national median weekly rents increased by 50 percent to $285.
Median weekly rents in Western Australia increased by 76.5 percent, the highest increase, followed by Queensland, where rents increased by 50 percent.
