Minister Collins 2024 Winter Sitting Question Time Briefs (qtbs)

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This question time brief prepared for Minister Collins in July 2024 compiles housing market data and affordability metrics. Key findings include: dwelling investment fell 0.5 per cent in March 2024 quarter; dwelling commencements declined 6.7 per cent year-to-December 2023; 450,000 fixed-rate mortgages will roll to variable rates in 2024; Australia reached its least affordable housing market since 2008 with the HIA Affordability Index falling 13.3 per cent year-on-year; saving for a 20 per cent deposit now takes 11.1 years versus a 10-year average of 10.2 years; loan repayments consume 46.6 per cent of median household income (down 1.1 points due to wage growth); and median rent consumes 24.3 per cent of income. The brief