Ever
wonder why your customers have less to spend? Well, the answer may lie in their
investment in real estate.
According
to figures from the Reserve Bank, the amount that Australians owe in housing credit
continues to rise dramatically and currently sits at $1.6374 trillion of which
around one third is owed by investors and the balance by owner/occupiers.
It
has grown by nearly 35% in the last 5 years and nearly 100% since 2007. So the
amount Australians owe on housing has nearly doubled in 10 years.
And
with rising house prices, particularly in Melbourne and Sydney, it is difficult
to see a slow down in the proportion of Australians income being directed to
real estate. Any wonder they don't have much to spend on other things.