Buying a home getting tougher for many Australians

A new housing report paints a grim picture for Australians hoping to buy a home - revealing housing affordability is at its worst level in three decades. It's being driven by rising house prices and mortgage rates.

(Φώτο αρχείου) Source: AAP

The Great Australian Dream of owning a home is indeed a reality for some.

But home ownership is definitely an unfulfilled dream for many others, as Senior Economist at Proptrack, Paul Ryan explains.

Proptrack's latest report found households earning a median income of 105 thousand dollars can only afford 13 per cent of all homes sold across the country in the last year.

That's the lowest level since records began in 1995.

Low-income households which earn 64 thousand a year can afford just three per cent of homes.