Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 13 January 2017

6.75 million families; not enough houses

6.75 million families

The ABS released its annual figures on families yesterday. 

I don't have the space to run through the whole data series this morning!

In short, however, over the last four years there are 401,800 additional families in Australia.

This takes the total number of families up to 6.75 million, making the family unit the key homebuying cohort.

The biggest increases were seen in New South Wales (118,800), Victoria (128,800), and Queensland (83,300), with these three states accounting for 83 per cent of the increase. 

On the other hand, over the last four years the number of families actually declined a little in Tasmania and the Northern Territory.

There were some other interesting takeaways from the single parent family figures, which showed that 56 per cent of single parent families had an employed parent.

The key point, though, is that over the past four years we've built far too many high rise apartments and not nearly enough family-appropriate accommodation.