Friday, 2 December 2016

Home possessions difficult in Perth

A new housing affordability study has found that home ownership remains difficult for households on low to moderate incomes. A study for the metropolitan area is the result of collaboration between the real estate institute of Western Australia, the housing authority and shelter WA, and is focused on affordability for households on very low and moderate incomes.

 There is a mismatch between the availability of housing in Perth and what households can afford. Less than one percent private market sales of houses and units were affordable to households on a very low income. Up to 43% of households in Perth are considered very low or low income. The Perth housing market is heavily weighted towards larger properties having three or more bedrooms, which highlights the lack of diversity in housing stock.

Housing minister Brendon Grylls said that while the property market has softened, improving availability for dome those on the lowest incomes are still finding it extremely difficult to find available, appropriate and affordable housing. With over 80% of sales being larger properties, it is also evident that there is a lack of diversity in Perth housing market.

Housing affordability is a complex issue and the information in the report will inform the housing authority in the delivering of its commitments under the state affordable housing strategy, which is on track to provide 30000 affordable houses opportunities by 2020.

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