Just half of Australian adults own their own home: HILDA

Just half of Australian adults own their own home: HILDA
Just half of Australian adults own their own home: HILDA

The latest Housing, Income and Labour Dynamics in Australia survey found just half of Australian adults own their own home and the wealthiest households in Australia are couples over 65.          

The survey, released by the Melbourne Institute of Applied Economic and Social Research found a decline in home ownership between 2001 and 2014 fell more rapidly for younger age groups, concentrated on those aged under 55.

It said there was also a slight decline in home ownership among persons aged 55–64, from 75.1 percent in 2002 to 72.9 percent in 2014 and little change in home ownership among those aged 65 and over.

"Home ownership among persons aged 25–34 declined from 38.7 percent in 2002 to 29.2 percent in 2014, with much of the decline occurring between 2010 and 2014.

"Among persons aged 35–44, home ownership declined from 63.2 percent to 52.4 percent, and among persons aged 45–54, it declined from 75.6 percent to 67.4 percent.

"Median home values are similar among the three middle age groups (35–44, 45–54 and 55–64), and lower among the youngest (25–34) and oldest (65 and over) age groups. Growth in median home values is somewhat similar across the five age groups. "

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Just half of Australian adults own their own home: HILDA

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First Home Buyer Home Ownership

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