Worst housing affordability in almost three decades

Australians are finding it increasingly difficult to afford to put a roof over their heads. (Brendan Esposito/AAP PHOTOS)

Australian families are spending nearly half of their incomes paying their home loan as housing affordability drops to its worst point in almost three decades.

The outlook doesn't look any better for renters, with tenants now forking over an even higher proportion of their pay for rent.