Australian Housing Dynamics and Affordability
AUSTRALIAN HOUSING
HOUSEHOLD DEBT AND INCOME
HOUSEHOLD DEBT AND DEPOSITS¹
% of annual household disposable income
240
200
160
120
80
10
40
°
HOUSEHOLD DEBT-TO-INCOME RATIOS²
%
Netherlands
Household Debt to
Income 191.1%
200
Australia
150
Household Net Debt
to Income 104.8%
Norway
100
Jun-2012
Jun-2014
Jun-2015
Jun-2016
Jun-2013
Household depositsas a
% of Income 86.3%
Jun-2017
Jun-2018
Jun-2019
Jun-2005
Jun-2006
Jun-2007
Jun-2008
Jun-2009
Jun-2010
Jun-2011
Jun-2002
Jun-2
Jun-2004
Jun-2000
Jun-2001
Jun-1999
Jun-1998
Jun-1995
Jun-1996
Jun-1997
ratio
Deposits to Disposable Income
HOUSING PRICE-TO-INCOME RATIO³
6
NSW
5
10
4
Vic
3
3
2
1
1998
*
2008
2018
Qld
ratio
6
WA
Tas
ACT
1998
2008
5
10
寸
SA
3
Average dwelling prices to average annual household disposable
income
Sources: ABS; CoreLogic; RBA
2018
Sweden
50
NZ
%
120
80
40
1997
Canada
UK
2017
%
200
150
US
100
Germany
50
Spain
1997
2017
Sources: National sources; OECD; RBA; Thomson Reuters
HOUSEHOLD MORTGAGE DEBT INDICATORS²
Debt-to-income ratio
2
o
1994
2006
2018
%
Payment-to-income ratios**
Total payments!
12
Total scheduled
payments
Interest
Scheduled
principal
Unscheduled principal
1994
2006
2018
Excludes non-housing debt; debt-to-income line nets out amounts in
redraw facilities: dotted lines are calculations based on debt balances
which also exclude offset accounts; income is household disposable
income before housing interest costs
8
4
Rolling four-quarter average; unscheduled principal is the change in
aggregate mortgage prepayments
Sources: ABS; APRA; RBA
ANZ
122
Sources: 1. ABS, RBA. Housing Debt refers to ratio of housing debt to annualised household disposable income. Deposits include transferrable and other deposits. 2. RBA Financial Stability Review,
April 2019 3. RBA Speech: "The Housing Market and the Economy", March 2019.View entire presentation