See how property price falls and a weakening labour market have made Australians unsure of their next move.

See how property price falls and a weakening labour market have made Australians unsure of their next move.
The ME Household Financial Comfort Report provides in-depth and critical insights into the financial situation of Australians based on a survey of 1,500 households.
 
The survey is designed, developed and produced bi-annually by ME with assistance from DBM Consultants and Economics & Beyond.
 
This edition presents the findings from the 16th survey, conducted in June 2019.

Read the media release

Download the report

Key findings.

House price falls and weakening labour market drag down financial comfort

Overall, households are feeling worse about their net wealth, jobs, income and living expenses due to house prices falls and a weakening labour market.

Living costs and a lack of savings are the biggest financial ‘worries’


 

Worry about cost of necessities topped the list (44%), followed by worries about level of cash savings (34%), superannuation (31%) and impact of government legislation (19%).

A weakening labour market and subdued income growth weigh on comfort

Financial comfort eased as a result of a weakening job market, which resulted in subdued wage growth, falling comfort with income and high levels of both underemployment and job insecurity.

Comfort by housing tenure is mixed, but most households increasingly optimistic

Comfort lessened among homeowners with a mortgage and renters, while comfort has risen amongst those who own their home outright and geared property investors.

Winners

  • Households not reliant on the government aged pension in their retirement
  • Households with super balances greater than $1 million
  • Young and middle-aged singles/couples with no children
  • Geared investors in residential property markets
  • NSW/ACT and VIC

Losers

  • QLD, TAS and SA/NT
  • Brisbane, Perth and Adelaide residents
  • Working Australians
  • WA workers
  • Renters

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Archive.

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