There are 164,624 empty homes in Sydney, yet we have a five-figure waiting list for public housing. In the latest in our Unseen Sydney series, experts say solving the city's housing crisis will not be simple.
The 2021 census revealed that there were nearly 300,000 unoccupied homes across New South Wales, with 9.9 percent of private homes in Sydney's inner west being vacant.
Lane Cove Council last year called for reforms to permit higher council rates or land tax on empty homes. Figures from the 2021 census show there were nearly 300,000 unoccupied homes across NSW – 9.9 per cent of private homes in Sydney's inner west were vacant.
Figures from the 2021 census, sorted for The Sun-Herald by local government area, show the location of nearly 300,000 unoccupied homes across NSW. Eurobodalla Shire on the South Coast had 1941 unoccupied homes on census night: 25.4 per cent of its housing stock.
The 2021 Census reveals that 10.1 per cent (1,043,776 homes) of Australia's 10,318,997 private dwellings were unoccupied on the night of the Census.
The Outback is a remote, vast, sparsely populated area of Australia. The Outback is more remote than the bush.
This line graph shows that the proportion of owners without a mortgage declined from about 42% in 1994–95 to 30% in 2019–20. This line graph shows that the proportion of owners with a mortgage increased from about 30% in 1994–95 to 37% in 2019–20.
Our recent census-based analysis shows there were well over 200,000 NSW households with an unmet need for social or affordable housing in 2021. Some 144,000 of them would probably qualify for social housing. True, some of these needs could be met in other ways, such as a major increase in rent assistance.
Departmental briefing documents seen by the Herald show the state is expected to deliver just 36,000 new homes a year for the next five years, when it needs 62,800 – a shortfall that Planning Minister Paul Scully described as “greater than we thought”.
In NSW, there were 35,011 people experiencing homelessness in NSW, compared with 37,715 in 2016, representing a decrease of 7.2%. Despite a decrease overall, homelessness numbers have increased for the following groups: Aboriginal and/or Torres Strait Islanders: Increased by 10% to 2,508 (2021) from 2,278 (2016).
The almost 30,000-acre, three-property portfolio, which includes a unique, Spanish-style homestead, has been signed for. The properties themselves have fetched in excess $100 million. Adding the plants and livestock, the total price is an undisclosed sum north of that magic figure.
If you've been residing in an abandoned home under the Australian law of adverse possession, you may be able to claim ownership. You'll need to demonstrate that you've been there for 12 to 15 years—12 in the rest of the nation and 15 in Victoria and South Australia.
122,494 people were estimated to be experiencing homelessness at the time of the 2021 Census, an increase of 6,067 people (5.2%) since 2016. The rate of homelessness decreased to 48 people per 10,000, from 50 in 2016. Of those experiencing homelessness in 2021: 68,516 (55.9%) were male, an increase of 1.6% from 2016.
Sydney remains the most unaffordable housing market in the country, according to the ANZ CoreLogic Housing Affordability Report released earlier this week, which found as of March 2023 that “an estimated 51.6 per cent of income would be required to service a new mortgage, and around 12 years would be required to ...
The largest unit discount was in the Ryde region at 7.7 per cent, up from 5.1 per cent. Westpac senior economist Matthew Hassan said the high levels of discounting correlated with some of the largest price declines.
Another promising area is Wagga Wagga, the largest inland city in NSW. In 2022, the city experienced some of the highest house price growth in the country, at 20.5 per cent. However, Mr Paliwal sees property as still remaining affordable, thanks to a median house price of $500,000.
Parramatta and surrounding areas, plus the inner west, were the big winners in the lists of 10 suburbs for units and 10 suburbs for houses located within 30km of the CBD. Parramatta received 618 inquiries from potential first home buyers, making it the most sought after market for units in Sydney.
If the price rises are maintained for the rest of the year, home values will end up about 4% higher in 2023, defying earlier predictions of sharp falls of 10% or more for this year, CoreLogic says. “Economists are shredding their previous price forecasts,” said Sally Tindall, research director for RateCity.
A Wave of Disadvantage Report findings
More than 9,000 additional people in NSW will be homeless – a rise of 24.0 per cent in the homeless population. Some regions will see a 40.5 per cent increase in homelessness.
Price growth in Sydney's housing market has been fuelled by population growth, an undersupply of housing and higher levels of investor activity. Geographical constraints and planning restrictions have also limited the expansion of the land stock suitable for housing.
Sydney property market forecast for 2023. After booming through 2020 and 2021, Sydney housing values have fallen 12.3% from their peak in January 2022.
Assuming that the average mortgage age in Australia starts somewhere between 25 and 34 years, then to work out the average age to pay off a mortgage in Australia, you just need to add a 25 to a 30-year term. This would make the average age to pay off a mortgage in Australia between 50 and 64 years.
The average yearly salary in Australia is 90,800 AUD (USD 60,355). Let's go through a few key indicators of the average earnings in Australia so you can fully understand salary statistics and trends in the country.
The average annual salary in Australia is $68,900 and $35.30 per hour. It is just the average salary for basic workers but skilled and experienced workers also earn around $108,980 annually. The average salary also varies depending on the field of work and the job role of workers.