HOUSEHOLD ECONOMIC RESOURCES

GROSS AND EQUIVALISED HOUSEHOLD INCOME

In recent times, Tasmanian households have recorded healthy growth in household income. In 2007-08, the median weekly gross household income in Tasmania was $975. This was an increase of 15% on the 2005-06 estimate of $850 and 50% on the 2002-03 estimate of $650.

In 2007-08, the Tasmanian median weekly equivalised disposable household income (household income adjusted to facilitate comparison between different sized households) was $576. This was a 19% increase on the 2005-06 estimate of $486 and a 47% increase on the 2002-03 estimate of $391.




PRINCIPAL SOURCE OF HOUSEHOLD INCOME

In 2007-08, wages and salaries were the main source of household income in Tasmania for 54% of households. This was followed by government pensions and allowances, which was the main source of income for 34% of households, and unincorporated business income (6.3%). Government pensions and allowances recorded a decline as the main source of household income, from 38% of households in 2003-04 to 34% in 2007-08.




HOUSEHOLD EXPENDITURE

In 2003-04, food and non-alcoholic beverages accounted for the largest expenditure by Tasmanian households on goods and services, contributing 18% of total household expenditure. (Expenditure on these items has remained fairly consistent with 19% in 1993-94 and 18% in 1998-99.)

Transport was the second biggest expenditure item in 2003-04, contributing 17% of total household expenditure. (Expenditure on this item has increased from 15% in 1993-94 and from 16% in 1998-99.)

In 2003-04, housing costs contributed 13% of total household expenditure. (Expenditure on this item has increased from 11% in 1993-94 and from 12% in 1998-99.)


HOME OWNERSHIP

On Census night 2006, 37% of all occupied private dwellings in Tasmania were fully owned by their occupants. The local government areas (LGAs) with the highest percentage of home ownership were Tasman (52%) followed by Break O'Day (50%) and Glamorgan/Spring Bay (49%). Brighton was the LGA with the lowest percentage of home ownership (21%) followed by Hobart (32%) and Launceston (32%).HOUSING RENT PAID

On Census night 2006, the median weekly rent paid for occupied private dwellings in Tasmania was $135. The most expensive LGAs in which to rent were Hobart and Kingborough, each with a median weekly rent of $180 followed by West Tamar, Clarence and Sorell with a median weekly rent of $150. At the same time, Central Highlands LGA was the cheapest place to rent with a median weekly rent of $50, followed by Flinders ($71) and Southern Midlands ($88).HOUSEHOLD HOUSING LOAN REPAYMENT

On Census night 2006, the median monthly home loan repayment for occupied private dwellings in Tasmania was $867. Hobart residents had the highest median monthly home loan repayment ($1,138), followed by Kingborough residents ($1,040) and Clarence residents ($975). West Coast residents had the lowest median monthly home loan repayment ($500), followed by King Island residents ($609), and Break O'Day, Central Highlands and Tasman residents (all with $650).
HOUSEHOLD ASSETS AND LIABILITIES

In 2005-06, average (mean) household net worth in Tasmania was $406,600 compared to $324,900 in 2003-04. Average household assets in 2005-06 were $458,500 comprising of $109,200 in financial assets and $349,200 in non-financial assets. On the other side of the ledger, average Tasmanian household liabilities in 2005-06 were $51,800 of which property loans contributed $44,900.




ABS SOURCE PUBLICATIONS:

2006 Census of Population and Housing, Community Profiles

Household Income and Income Distribution, Australia (ABS cat. no. 6523.0)

Government Benefits, Taxes and Household Income, Australia (ABS cat. no. 6537.0)

Housing Occupancy and Costs (ABS cat. no. 4130)

Household Expenditure Survey, Australia (ABS cat. no. 6530.0)

Household Wealth and Wealth Distribution (ABS cat. no. 6554.0)