MEDIA RELEASE: “Census highlights rent, not mortgage, stress”
Photo Credit: Ben Rushton
Published by: www.smh.com.au | Story by: Jacob Saulwick and Peter Martin
Garnet O’Neill neither owns his apartment outright, nor owns a mortgage over the property. In this, he is increasingly typical of modern Australia, and particularly Sydney, where the number of renters is growing faster than those with an ownership stake in their property.
“Unless you got into the market a few years ago, or you’re established in the market or you’ve got family support… for the average person it’s impossible to afford to live in the city,” said Mr O’Neill, of Zetland.
