Australia's highest mortgages paid by Sydneysiders as ownership slips: ABS Census 2016

Australia's highest mortgages paid by Sydneysiders as ownership slips: ABS Census 2016
Australia's highest mortgages paid by Sydneysiders as ownership slips: ABS Census 2016

Figures released from the 2016 Census of Population and Housing by the ABS shows the proportion of those owning their own homes outright has declined, falling to 31 percent in 2016 compared to 41.1 percent in 1991.

Census data released today shows residents with mortgages now account for 34.5 percent of the total, up from 27.5 per cent in 1991.

The census also found renters account for 30.9 percent, up from 26.9 percent in 1991.

"Australia's highest mortgages are paid by Sydneysiders, whose median repayments are around $2200 per month," the census found.

Home ownership dropped faster in Sydney than the national average, the latest census figures show.

Total dwelling ownership in the NSW capital dropped to 62.3 per cent in 2016 from 65.2 per cent five years earlier as both outright and mortgage-ownership fell. 

The nationwide home ownership rate dropped 1.5 per cent to 65.5 per cent between 2011 and 2016, but there were notable differences from city to city.

Nationally, home ownership fell to 65.5 per cent since the last census from 67 per cent. 

Darwin mortgages also sit around $2200 per month.

Canberra is next with $2100 per month, followed by Perth ($1950) and Brisbane ($1800). Melburnians pay $1750 per cent, while those in Adelaide pay $1500, just head of Hobart with $1450.

Similarly rents are highest in Sydney -- $440 per week - followed by Darwin ($420) and Melbourne ($350).

Sydney remains the most most expensive city with 14.2 percent of residents devoting more than 30 percent of their incomes on rents.

The proportion of tenants in Sydney increased from 31.6 per cent in 2011 to 34.1 per cent in 2016, making them the most dominant group in the city. Home owners with a mortgage declined from 34.8 per cent to 33.2 per cent. Fewer Sydneysiders owned their home outright – down to 29.1 per cent from 30.4 per cent in 2011.

The ABS Census noted we’re still a nation of home owners, or aspirational home owners, with 31 percent of Australian homes owned outright and 34 percent owned with a mortgage – leaving 31 percent being rented.

While separate houses still account for most homes in Australia (72 percent), there’s been a large increase in other forms of dwelling, such as flats, apartments, semi-detached, row housing or town housing, which now make up more than a quarter (26 percent) of Australian housing – all higher density residential development. 

"Of the 8.3 million occupied private dwellings, seven in 10 housed families (69 percent by one family and 1.9 percent by multiple families), one in four were one-person households, and one in 25 were group households," the Census papers noted.

The nation's diversity is also reaching what the bureau described as "a tipping point" - with 49.3 per cent of the population either born overseas, or born to parents who were born overseas.

Around 50.7 per cent described themselves as "third-generation" or more.

While the biggest number of overseas-born Australians still started life in either England or New Zealand, the last decade has seen the largest number of migrants coming from India (accounting for 13.7 per cent); China (13.3 per cent), followed by England (7.9 per cent), NZ (7.7) and The Phillipines (6 per cent).

Around 2 million migrants live in NSW - accounting for 28 per cent of that state's resident population.

Another 1.7 million live in Victoria (28 per cent of the total), followed by 1.02 million in Queensland (22 per cent), 797,000 in Western Australia (32 per cent), 384,097 in South Australia (26 per cent) and 61,240 in Tasmania (12 per cent).

Home Ownership Census

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