Australians spending more on housing: RBA

Australians are contributing higher proportions of their income on housing costs, with rent, interest payments and household services (utilities, cleaning, etc) costs all rising between the years 2003-04 and 2009-10, according to a household expenditure survey carried out by the Reserve Bank.

In comparison, Australians are taking less money out of their wallets to pay for cars, stereos, furniture and books then they did six years ago.

They’re even spending less on cigarettes.