Australian households spend twice as much of income on mortgages than five years ago, report shows

Servicing a new mortgage eats up 45% of a median household’s pre-tax income, up from 26% in September 2020, the analysis revealsGet our breaking news email, free app or daily news podcastThe average Australian household needs to dedicate nearly twice as much of their income to paying their mortgage than they did five years ago, according to a new report.The latest findings from property research firm Cotality come as the Albanese government comes under increasing pressure to find ways to accelerate the supply of new homes to ease price pressures. Continue reading...