Housing affordability linked to personal wellbeing

Housing affordability linked to personal wellbeing
Housing affordability linked to personal wellbeing

A new study has found people who spend more than half of their household income on housing costs are significantly less happy than those who pay less than a quarter.

The Australian Unity Wellbeing Index survey found those with housing costs of 25% of household income or less have an average personal wellbeing index (PWI) score of 77.

Those who pay between 50-75% of their household income on housing score just 69.9 on average. 

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Housing affordability linked to personal wellbeing

 

The survey found people without a mortgage have the highest overall levels of wellbeing. 

Deakin University senior research fellow Delyse Hutchinson said it is clear that there is a correlation between a lack of housing affordability and wellbeing.

"It might be that housing costs are taking a toll on people’s life satisfaction, or those with lower personal wellbeing might face a greater challenge in their interaction with the tough housing market,” she said. 

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Housing affordability linked to personal wellbeing

The full report can be viewed here.

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