Housing stress in Sydney hits a new high

 

PHOTO: Sydney

Sydney’s long property boom has left one in eight low and middle-income earners across the city in housing stress, the highest proportion in Australia.

The latest Household, Income and Labour Dynamics in Australia (HILDA) survey shows the rate of housing stress in Sydney was 10.1 per cent between 2001 and 2004 but reached an all-time high of 13 per cent between 2013 and 2016.

The respected study has also revealed a sharp decline in the share of those aged under-45 making the mover to home ownership suggesting the transition from renter to homeowner has become much more difficult.

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