Australian Bureau of Statistics
Celebrating the International Year of Statistics 2013

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	MEDIA RELEASE
October 31, 2007	Embargoed 11.30 am (AEDT)	113/2007

In 2005-06, just over a third (34%) of homes were owned outright by their occupants - down from 42% in 1994-95. Over the same time, the proportion of homes owned with a mortgage increased from 30% to 35%.

Main findings

• In 2005–06, there were more people in private dwellings (up 13%) than in 1994-95, but the average household size decreased by 7%
• In 2005-06 most (78%) houses had more bedrooms than required
• The proportion of gross household income required to meet housing costs increased from 12% to 14%
• Sydney had the highest housing costs in Australia - for private renters, Sydney's costs averaged $294 per week, followed by Canberra ($280) and Darwin ($259).
• For owners with a mortgage, Sydney's housing costs averaged $443 per week, followed by Canberra ($343) and Brisbane ($338).
• The median value of owner occupied dwellings rose from $186,000 to $350,000 - up 88% between 1994-95 and 2005-06.
• Sydney's home owners had the highest median dwelling value ($500,000), while Hobart's had the lowest ($262,000).

• First home buyers with a mortgage were generally young, couple families with two incomes.
• First home buyers with a mortgage had an average household income of $1,544 per week in 2005-06, 18% higher than the average for all households.
• One in four (25%) first home buyers with a mortgage purchased medium and high density housing in 2005-06, up from 15% in 1995-96.