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Housing costs in WA soar three times faster than nation Courtney

| 19.11,11. 02:58 AM |

 

Housing costs in WA soar three times faster than nation Courtney

 

November 17, 2011
Housing costs increased three times faster in WA than the rest of the country during a two-year period, according to official data.

The total cost of rent or mortgage payments, rates and water increased by 14.7 per cent between 2007-08 and 2009-10, compared to 4.8 per cent nationally, the Australian Bureau of Statistics' Housing Occupancy and Costs 2009-10 report shows.

West Australians forked out $29 per week more for housing than the national average during 2009-10.

Advertisement: Story continues below And despite having among the highest wages in the country, the portion of income spent on housing in WA was more than residents in other states.

The average West Australian needed $200 per week to cover rent or mortgage payments and bills such as water and rates during 2009-10, according to the ABS.

Mortgage-holders paid significantly more than renters - $373 per week compared to $252 per week. However, housing was more of a burden for renters, accounting for 21 per cent of their gross income compared to 20 per cent for mortgage-holders.

Home owners without a mortgage spent on average just $25 per week, or 3 per cent of their income.

The average West Australian used 14 per cent of their wage to pay for housing, compared to the national average of 13 per cent.

Northern Territory residents faced the highest housing costs with an average $284 per week (on average 16 per cent of gross income).

UnionsWA said the data also showed that the poorest 20 per cent of WA households faced the highest housing cost increases of any group in the country at 29.5 per cent compared to 7.1 per cent for all Australians in the lowest quintile.

WA properties have fallen in value since the ABS data was collected, although rents have significantly increased.

Meanwhile, new wages data also released yesterday shows WA wages bucked the national trend, increasing by the largest margin in almost three years during the September quarter.

While the average Australian wage-increase declined to the slowest quarterly rise since June 2009, the WA wage index climbed 1.8 points to 110.2, the highest in the country and 0.7 points above the national average.

SMH



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