Thursday, November 21, 2013

Housing & mortgages

The ABS has released some data on housing ownership, rentals, and mortgages: Perspectives on Regional Australia, Housing Arrangements - Homes Owned with a Mortgage in Local Government Areas, 2011

This based on census data from 2006 and 2011 for local government areas. Among the larger Queensland regional and metropolitan councils Cairns is near the bottom in growth of mortgage repayments between 2006 and 2011.

This is probably what should be anticipated although the property market remained hot for a year or  more following the 2006 census. Gold Coast takes bottom place while resource growth centres of Mackay and Gladstone are at the top.

Growth in median mortgage repayments 2006-2011 (%)
The relatively high growth rate in Bundaberg probably reflects some catch up from a low base and it remains at the bottom along with Fraser Coast with the lowest median mortgage repayments. 
Median mortgage repayments
Cairns also has the largest rental proportion v home ownership among these areas.

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