SHOROC State of the Region Report

Back to Home Page

Housing Affordability for Key Workers Back to top

Key Indicator

Housing affordability for key workers.

Target (SHOROC Region)

Increase in affordable housing for key workers over time.

What is the current situation/trend?

off-track Indicator is off-track

The Bankwest key worker housing affordability report, March 2011 tracks housing affordability for five groups of key public sector workers – nurses, teachers, police, officers, fire-fighters and ambulance officers.

An area is classified as unaffordable if its median house price is more than five times the salary of a key worker (ie. >5). The review has been compiled using earnings data from the Australian Bureau of Statistics’ Employee Earnings and Hours survey and annual median house price data from Residex.

As outlined in the below table, housing within all local government areas (LGAs) that comprise the SHOROC Region are well above the level classed as affordable and there has been a minor 0.06 decrease in the rating for the region from 2005 to 2010.

Bankwest Financial Indicator Series Key Worker Housing Affordability Report, March 2011: All Key Workers

(note a region is classed as unaffordable if the rating is greater than 5)

LGA / Region House Price to Earnings 2005 House Price to Earnings 2009 House Price to Earnings 2010 Rating Change 2005-2010
Manly 18.9 17.7 19.1 Unaffordable +0.20
Mosman 29.4 27.5 30.7 Unaffordable +1.30
Pittwater 14.3 12.1 13 Unaffordable -1.30
Warringah 11.9 10.9 12 Unaffordable +0.10
Sydney 8.2 7.5 8.3 Unaffordable +0.10
SHOROC Regional Average 15.32 13.93 15.26 Unaffordable -0.06

Why use this indicator and what does this mean for the overall Health and Wellbeing of the SHOROC Region?

SHOROC is using this indicator as one of a suite of indicators to determine what the state of play is in respect housing affordability, when measuring the overall health and wellbeing of the SHOROC Region.

Updated July 2013