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New research reveals even a growing number of rich Aussies can’t buy a home

Press coverage 22 February 2024 Summary of published coverage
New research reveals even a growing number of rich Aussies can’t buy a home

Research from the Australian Housing and Urban Research Institute found nearly a quarter of renting households were in the top income brackets in 2021, up sharply from 8 per cent in 1996. Advisers said borrowing capacity had not kept pace with prices, with the average Sydney house near $1.37 million requiring household income of about $220,000, and PIPA chair Nicola McDougall noted rentvesting had grown more popular.

Reported by

Shannon Molloy, Geelong Advertiser, 22 February 2024

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