Housing affordability in Australia for first home buyers on moderate incomes

Housing affordability in Australia for first home buyers on moderate incomes Purpose – This paper seeks to examine the opportunity for home ownership by first‐time buyers who are in occupations defined in the UK literature as key workers within four state capitals in Australia: Adelaide, Melbourne, Sydney, and Brisbane. Many of these workers are moderate or average income earners who deliver essential community services such as health, social services, education, safety and emergency services. This paper aims to explore access to home ownership for these workers for 2001 and 2009, a period which included the introduction and reintroduction of increased Australian government grants to first home buyers. Design/methodology/approach – The study determines, for each year, the zones of each city able to be afforded on a moderate single income as well as the percentage of suburbs able to be afforded by key workers. Findings – The paper identifies the pressure for multiple incomes in order to purchase as well as discussing the commuting distances some workers in Adelaide and Sydney may have to accommodate in order to afford a home. Originality/value – The paper follows up 2001 work, conducted in Australia, on housing affordability for moderate income earners. Housing affordability continues to be a key housing issue in Australia, especially for first home buyers. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Property Management Emerald Publishing

Housing affordability in Australia for first home buyers on moderate incomes

Property Management, Volume 29 (4): 14 – Aug 16, 2011

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Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
0263-7472
D.O.I.
10.1108/02637471111154809
Publisher site
See Article on Publisher Site

Abstract

Purpose – This paper seeks to examine the opportunity for home ownership by first‐time buyers who are in occupations defined in the UK literature as key workers within four state capitals in Australia: Adelaide, Melbourne, Sydney, and Brisbane. Many of these workers are moderate or average income earners who deliver essential community services such as health, social services, education, safety and emergency services. This paper aims to explore access to home ownership for these workers for 2001 and 2009, a period which included the introduction and reintroduction of increased Australian government grants to first home buyers. Design/methodology/approach – The study determines, for each year, the zones of each city able to be afforded on a moderate single income as well as the percentage of suburbs able to be afforded by key workers. Findings – The paper identifies the pressure for multiple incomes in order to purchase as well as discussing the commuting distances some workers in Adelaide and Sydney may have to accommodate in order to afford a home. Originality/value – The paper follows up 2001 work, conducted in Australia, on housing affordability for moderate income earners. Housing affordability continues to be a key housing issue in Australia, especially for first home buyers.

Journal

Property ManagementEmerald Publishing

Published: Aug 16, 2011

Keywords: Housing; Affordability; Australia; Earnings

References

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