Unaffordable housing pulls Australia down in social rankings

Font size :
Australia is falling behind in housing affordability despite its recent rank as the world’s 10th most socially advanced nation, a study by a US-based non-for-profit has found.
 
The country has have scored well in terms of freedom of speech, freedom of movement and political rights in the Social Progress Index published by Social Progress Imperative. But for an official at Deloitte, Australia’s housing affordability “is not doing particularly well”, reports The ABC Online.
 
Lynne Pezzullo, lead partner of health economics and social policy at the accounting firm Deloitte, told The ABC that Australia only ranks 19th in the world when it comes to shelter and 51st in terms of housing affordability.
 
"Access to affordable housing is a key issue and Australia is not doing particularly well in that area, even though we have very low interest rates at the moment," Pezzullo said.
 
"But importantly it's our housing pricing and our access into the housing market, both in terms of rent and also in terms of purchase, which are driving the poor performance we have in that area."
 
Norway tops the list, with Sweden, Switzerland, Iceland, New Zealand and Canada following suit. Behind Australia are bigger economies such as Britain, Germany, Japan and the US. 
 

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 20, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords