Property lobby group Australians for Affordable Housing (AAH) has suggested incomes are not rising in line with housing costs such as mortgages and rents, placing pressure on many households across the country.
AAH campaign manager Sarah Toohey noted that the median mortgage repayment increased 39 per cent between 2006 and 2001, while the median rent moved up by 49 per cent.
However, the median household income over this period only increased by 20 per cent.
"If governments don't start to take housing affordability seriously, we'll continue to see increasing numbers of people locked out of home ownership or burdened with a mortgage they can't afford," said Ms Toohey, calling for the establishment of a national programme for Australian homes.
Despite this gloomy prognosis, many analysts have been hailing a rise in affordability in the country following several consecutive rate cuts from the central bank.
Investment adviser Monique Sasson Wakelin recently told ABC Radio Melbourne is becoming increasingly affordable, reports Property Observer.
Posted by Craig Francis
