The ANZ CoreLogic Housing Affordability Report is a guide to the trends and main drivers of housing affordability across Australia.
Housing is a fundamental human requirement, providing both shelter and security. Nationally housing values have been rising, posting a 21.6 per cent rise over the twelve months ending October 2021. Rents rose 9.2 per cent over the same period. The initial 12 months of the current cycle is showing the fastest growth trajectory on record.
The positive turn in the market followed a brief COVID-19 induced decline, where values fell 2.1 per cent before bottoming out in September 2020. Many factors contributed to the sharp increase in values including record low mortgage rates, a substantial lift in household savings, a variety of stimulus from governments and improving consumer sentiment as lockdowns lift.
The analysis provided here by ANZ and CoreLogic is designed to inform the discussion around policies that aim to improve affordability. Over time this report will track changes in affordability for home owners, aspirational buyers and renters.
Looking for the latest report? Click below for the report on the first quarter of 2022
Housing affordability report 2022