RBA's home ownership submission highlights state variation

The Reserve Bank of Australia's submission to the House of Representatives Standing Committee on Economics Inquiry into Home Ownership has noted a decline in home ownership rates between the 25-34 and 35-44 age brackets driven in part by the sharp rise in housing prices since the mid 1990s.

The submission noted that all home ownership rates for all states were between 65 and 75% at the last Census but 'considerable variation' exists between states, with a low of roughly 65% in Queensland and highs of nearly 72% in Tasmania and Victoria.