prosperity

The housing debt binge is still one of the main threats to the nation's prosperity even though house prices are stagnant and borrowing growth has slowed, the Reserve Bank says.
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The ratio of household debt to income has reached a record 150 per cent - one of the highest in the world - and the ratio of house prices to disposable income is also very high by historical and international standards.

The share of households with debt secured on their home is rising, having jumped from less than 30 per cent in the mid-1990s to 36 per cent.
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The average new home loan has more than doubled, from $99,000 in 1996 to $215,000, and the ratio of the average new home loan to household income has risen by 50 per cent to be more than three times the annual income of the average family.


[ Is household debt getting worse? ]