Workers in insecure employment 'concerned over housing costs'

Friday 21 October 2011

Article by Mozo

Home loans customers and those renting property who are in insecure employment are highly concerned about the cost of housing, a survey has revealed.

Many Aussies 'concerned about home loan repayments'

The study by the Australian Council of Trade Unions revealed that the expenses of the most concern for these Aussies were mortgage repayments and rent.

Some 54 per cent of men and 56 per cent of women said this was their greatest worry.

Sarah Toohey, spokesperson for Australians for Affordable Housing, commented: "If they then have to pay 30, 40 or 50 per cent of their income in housing costs to keep a roof over their head it can make for a pretty shaky housing situation."

She noted that having an insecure working situation means it is difficult to take out home loans and those that do manage may be uncertain about whether or not they can afford their mortgage.

This comes after the latest Westpac-Melbourne Institute Consumer House Price Expectations Index revealed that 39 per cent of Aussies believe house prices are set to increase.

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