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

Australian home values have climbed by about 50% since 2020, according to research firm Cotality. Photograph: Stuart Walmsley/The Guardian

The 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.