Bankwest key worker housing affordability 2009

financial indicator series

27 July 2009

Seven out of Eight Australian Capital Cities are too Expensive for Emergency Workers and Teachers

Bankwest releases the second annual Key Workers Housing Affordability survey, revealing the uphill battle facing Australia's key workers.

Despite housing affordability improving marginally in Australia over the past year, owning a home in a city they serve remains an unattainable dream for our struggling emergency workers and teachers.

The Second Annual Bankwest Key Worker Housing Affordability Report was released today to the nation, highlighting the uphill battle facing Australia's key workers.

"Our research shows that key workers are still doing it tough across Australia with most being locked out of the property market in the city they serve," said Bankwest Retail Chief Executive Ian Corfield.

"These are the essential workers Australians rely on everyday to provide important services and most continue to be priced out of the housing in the communities in which they serve".

Key workers include nurses, teachers, police officers, fire-fighters and ambulance officers. Bankwest released our first Key Workers Housing Affordability report in June last year, highlighting how house prices were rising faster than key worker earnings. Despite house prices in 2009 falling 2% nationally, median house prices remain more than five times a key workers annual earnings.

Download a copy of the full report and a breakdown on each state below:

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