Wage price index, Queensland and Australia

Between December 2022 and December 2023, wages in Australia grew by around 4.2 percent. Wage growth in recent years has been relatively low in comparison to previous years, in particular in December 2020, which only saw a wage growth of 1.3%. Inflation and CPI outstripping wages While wages have increased in Australia, they have still not matched the rate of inflation, which was sitting at 4.1 percent at the end of 2023, down from a high of 7.8 percent at the end of the previous year. The high cost of goods has also put pressure on the public, with the Consumer Price Index standing at around 136 points, compared to a base year of 2011-12. Rent is on the rise As with many around the world, Australians are also feeling the costs of rent increases. The majority of people in Australia perceive that the cost of rent has risen significantly in their local area. This in turn has seen the government expenditure on rental assistance continue to be high, with around 4.7 billion Australian dollars spent to assist the Australian public in maintaining their housing needs.

Australia Wage Price Index: excl Bonuses: Private Sector: Queensland data was reported at 153.700 2008-2009=100 in Dec 2024. This records an increase from the previous number of 152.900 2008-2009=100 for Sep 2024. Australia Wage Price Index: excl Bonuses: Private Sector: Queensland data is updated quarterly, averaging 107.550 2008-2009=100 from Sep 1997 (Median) to Dec 2024, with 110 observations. The data reached an all-time high of 153.700 2008-2009=100 in Dec 2024 and a record low of 67.400 2008-2009=100 in Sep 1997. Australia Wage Price Index: excl Bonuses: Private Sector: Queensland data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.G091: Wage Price Index: ANZSIC 2006: 2008-09=100: Excluding Bonuses: by Sector and State.

Australia Wage Price Index: excl Bonuses: Ordinary Time: Queensland data was reported at 154.600 2008-2009=100 in Sep 2024. This records an increase from the previous number of 152.100 2008-2009=100 for Jun 2024. Australia Wage Price Index: excl Bonuses: Ordinary Time: Queensland data is updated quarterly, averaging 107.800 2008-2009=100 from Sep 1997 (Median) to Sep 2024, with 109 observations. The data reached an all-time high of 154.600 2008-2009=100 in Sep 2024 and a record low of 66.500 2008-2009=100 in Sep 1997. Australia Wage Price Index: excl Bonuses: Ordinary Time: Queensland data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.G092: Wage Price Index: ANZSIC 2006: 2008-09=100: Excluding Bonuses: Ordinary Time: by State.

Australia Wage Price Index: excl Bonuses: Queensland data was reported at 155.500 2008-2009=100 in Dec 2024. This records an increase from the previous number of 154.500 2008-2009=100 for Sep 2024. Australia Wage Price Index: excl Bonuses: Queensland data is updated quarterly, averaging 108.050 2008-2009=100 from Sep 1997 (Median) to Dec 2024, with 110 observations. The data reached an all-time high of 155.500 2008-2009=100 in Dec 2024 and a record low of 66.600 2008-2009=100 in Sep 1997. Australia Wage Price Index: excl Bonuses: Queensland data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.G091: Wage Price Index: ANZSIC 2006: 2008-09=100: Excluding Bonuses: by Sector and State.

Wages in Australia increased to 1510.90 AUD/Week in the fourth quarter of 2024 from 1480.90 AUD/Week in the second quarter of 2024. This dataset provides - Australia Average Weekly Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Minimum Wages in Australia increased to 915.90 AUD/week in 2024 from 882.80 AUD/week in 2023. This dataset provides - Australia Minimum Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia Wage Price Index: excl Bonuses: Public Sector: Queensland data was reported at 161.500 2008-2009=100 in Dec 2024. This records an increase from the previous number of 159.900 2008-2009=100 for Sep 2024. Australia Wage Price Index: excl Bonuses: Public Sector: Queensland data is updated quarterly, averaging 109.900 2008-2009=100 from Sep 1997 (Median) to Dec 2024, with 110 observations. The data reached an all-time high of 161.500 2008-2009=100 in Dec 2024 and a record low of 64.500 2008-2009=100 in Sep 1997. Australia Wage Price Index: excl Bonuses: Public Sector: Queensland data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.G091: Wage Price Index: ANZSIC 2006: 2008-09=100: Excluding Bonuses: by Sector and State.

The rent price index in Australia in the fourth quarter of 2024 was 120.7, marking an increase from the same quarter of the previous year. Rent prices had decreased in 2020; in Melbourne and Sydney, this was mainly attributed to the absence of international students during the coronavirus outbreak. The current state of the rental market in Australia The rental market in Australia has been marked by varying conditions across different regions. Among the capital cities, Sydney and Melbourne have long been recognized for having some of the highest average rents. As of September 2024, the average weekly rent for a house in Sydney was 775 Australian dollars, which was the highest average rent across all major cities in Australia that year. Furthermore, due to factors like population growth and housing demand, regional areas have also seen noticeable increases in rental prices. For instance, households in the non-metropolitan area of New South Wales’s expenditure on rent was around 30 percent of their household income in the year ending June 2024. Housing affordability in Australia Housing affordability remains a significant challenge in Australia, contributing to a trend where many individuals and families rent for prolonged periods. The underlying cause of this issue is the ongoing disparity between household wages and housing costs, especially in large cities. While renting offers several advantages, it is worth noting that the associated costs may not always align with the expectation of affordability. Approximately one-third of participants in a survey conducted in 2023 stated that they pay between 16 and 30 percent of their monthly income on rent. Recent government initiatives such as the 2024 Help to Buy scheme aim to make it easier for people across Australia to get onto the property ladder. Still, the multifaceted nature of Australia’s housing affordability problem requires continued efforts to strike a balance between market dynamics and the need for accessible housing options for Australians.

The house price-to-income ratio in Australia was 122.1 as of the third quarter of 2024. This ratio, calculated by dividing nominal house prices by nominal disposable income per head, increased from the previous quarter. The price-to-income ratio can be used to measure housing affordability in a specific area. Australia's property bubble There has been considerable debate over the past decade about whether Australia is in a property bubble or not. A property bubble refers to a sharp increase in the price of property that is disproportional to income and rental prices, followed by a decline. In Australia, rising house prices have undoubtedly been an issue for many potential homeowners, pricing them out of the market. Along with the average house price, high mortgage interest rates have exacerbated the issue. Is the homeownership dream out of reach? Housing affordability has varied across the different states and territories in Australia. In 2024, the median value of residential houses was the highest in Sydney compared to other major Australian cities, with Brisbane becoming an increasingly expensive city. Nonetheless, expected interest rate cuts in 2025, alongside the expansion of initiatives to improve Australia's dwelling stock, social housing supply, and first-time buyer accessibility to properties, may start to improve the situation. These encompass initiatives such as the Australian government's Help to Buy scheme and the Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF) programs.

工资价格指数：不包括红利：昆士兰在12-01-2024达155.5002008-2009=100，相较于09-01-2024的154.5002008-2009=100有所增长。工资价格指数：不包括红利：昆士兰数据按季更新，09-01-1997至12-01-2024期间平均值为108.0502008-2009=100，共110份观测结果。该数据的历史最高值出现于12-01-2024，达155.5002008-2009=100，而历史最低值则出现于09-01-1997，为66.6002008-2009=100。CEIC提供的工资价格指数：不包括红利：昆士兰数据处于定期更新的状态，数据来源于Australian Bureau of Statistics，数据归类于全球数据库的澳大利亚 – Table AU.G091: Wage Price Index: ANZSIC 2006: 2008-09=100: Excluding Bonuses: by Sector and State。