Australians for Affordable Housing (AAH) has claimed the Australian property market is still too expensive, after the annual Demographia International Housing Affordability survey showed homes in the country are still out of the reach of many people.
AAH campaign manager Sarah Toohey said housing was the biggest cost of living issue in Australia and this report underlined the need for a proactive government stance on the problem.
The survey showed Australia's national unaffordability ratio had fallen from 6.1 in 2011 to 5.6 this year. The score is generated by dividing the median house price by the median average income.
State governments should "prepare a stimulus plan focused on social housing, in anticipation of further economic problems in Europe," argued Ms Toohey.
She added that social housing could help alleviate the problem and offer benefits to many of the country's most disadvantaged citizens.
The report placed Australia as only second to Hong Kong in terms of housing unaffordability and showed none of the markets in the country as being affordable to people on average incomes.
Posted by Steve Douglas
