June 30, 2017

More People Renting and More Apartments

“The number of people living in each dwelling has increased in Sydney and Melbourne to 2.7 people (2.6 nationally). Furthermore, the number of households with six or more people has increased by 20 per cent since 2011.

“There has been a significant increase in the share of the population that is living in a rental property (10 per cent) with a corresponding decline in the number of people that own their own house outright or with a mortgage.

“These figures show that the housing market, in these cities, continues to be undersupplied and inaccessible to new entrants.

“Households are increasingly forced from the owner-occupier market to the rental market.

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