Aggregate affordability indicators suggest that house prices and rents in Canberra are among the most affordable in the country when the community’s generally high incomes are taken into account. Most households pay less than 25 per cent of their income in rent and are therefore not in housing stress. However for many low-income households, particularly those not accommodated by Housing ACT, there are indications of housing stress. As at the December quarter 2006 the median house price in the ACT was $398,000. This was exceeded only by Sydney and Perth house prices. In the period between 2000 and 2003, as part of a national trend, the median house price in Canberra almost doubled. This price growth reflected strong demand for dwellings driven by a low unemployment, sustained wages growth, declining interest rates, competing investments and subsidies such as the first homeowners grant.