Affordable homes (home buyers)
The proportion of homes sold that are affordable to moderate income households is determined based on the following assumptions:
Final consumption expenditure is expenditure on goods and services that are used for the direct satisfaction of individual or collective needs or wants. It excludes expenditure on fixed assets (including dwellings), valuables and other non-financial assets. In the ASNA it is defined as the total value of all expenditures on individual and collective consumption goods and services incurred by resident households, resident NPISHs and general government units.
Financial assets are mostly financial claims. Financial claims entitle the owner to receive a payment, or a series of payments, from an institutional unit to which the owner has provided funds. Shares are treated as financial assets even though the financial claim their holders have on the corporation is not a fixed or predetermined monetary amount.
A collective term for those gases which reduce the loss of heat from the earth's atmosphere and thus contribute to global warming and climate change. Examples of greenhouse gases are water vapour, carbon dioxide, atmospheric methane, nitrous oxide, ozone and chlorofluorocarbons (CFCs).
Gross domestic product (GDP)
The total market value of goods and services produced in Australia within a given period after deducting the cost of goods and services used up in the process of production but before deducting allowances for the consumption of fixed capital. Thus gross domestic product, as here defined, is 'at market prices'. It is equivalent to gross national expenditure plus exports of goods and services less imports of goods and services.
Gross national expenditure
The total expenditure within a given period by Australian residents on final goods and services (i.e. before allowances for capital goods and services used up during the period in the process of production). It is equivalent to gross domestic product plus imports of goods and services less exports of goods and services.
Higher education qualification
A qualification generally offered by a university or other higher education institution, comprising Postgraduate Degree, Master Degree, Graduate Diploma, Graduate Certificate and Bachelor Degree.
Households and unincorporated enterprises are included in the one sector because the owners of ordinary partnerships and sole proprietorships frequently combine their business and personal transactions. Non-profit institutions serving households (NPISHs) comprise all resident non-market NPIs that are not controlled and not mainly financed by government. Such NPIs provide goods and services to households free or at prices that are not economically significant.
For any group, persons who were employed or unemployed, as defined.
Life expectancy refers to the average number of additional years a person of a given age and sex might expect to live if the age-specific death rates of the given period continued throughout his/her lifetime.
Low income group
Refers to the 20% of people in the second and third lowest income deciles after being ranked from lowest to highest, by their equivalised disposable household income
Low income renters
For the housing section, low income renter households are defined as households with equivalised disposable household income (excluding CRA) at or below the 40th percentile, calculated for capital city and balance of state, on a state-by-state basis. See also 'Commonwealth Rent Assistance (CRA)'.
Low income rental affordability
Housing costs as a proportion of gross household income for low income renters
Malicious property damage
Intentional or wilful (not accidental) damage, defacement or destruction of any part of the respondent's home or anything usually kept at his or her home. The questions on malicious property damage relate to the respondent's home and any property belonging to the respondent or a member of his or her household, excluding any rental, investment or holiday properties that he or she owns. Property is something tangible in nature including land, conveyances, animals or other objects capable of being privately owned. Destruction can mean any alteration that may render something imperfect or inoperative. It can include destruction of property, graffiti or vandalism, partial destruction, killing or harming an owned animal, and removing or destroying a plant or other part of an owned landscape. Excludes turning off water meters and flicking safety switches etc. if no damage to the meter occurred.
Multifactor productivity (MFP) statistics aim to measure technical progress or the efficiency of production. MFP can be equated with technical progress if certain conditions are met (e.g. firms seek to maximise profits, markets are competitive, and the coverage of inputs is complete). In practice, MFP measures that part of output growth that cannot be attributed to the growth in measured inputs. As such, MFP is influenced by more than just technical progress. Other influences include the reallocation of inputs, variations in the utilisation of inputs, natural events, and measurement error.
Excess of births over deaths.
Net overseas migration (NOM)
Net overseas migration is the net gain or loss of population through immigration to Australia and emigration from Australia. It is:
· based on an international traveller's duration of stay being in or out of Australia for 12 months or more;
· the difference between:
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