Key points
- Based on a Report by Bernard Salt, Australia’s home ownership rate peaked at 73% in 1966 as the home was then seen as synonymous with wealth and security.
- Since then, the trend has been down, influenced by a combination of demographic trends, rising prosperity and changed perceptions of wealth.
- A significant deterioration in housing affordability over the last thirty years has also likely been a key driver of declining home ownership. This risks threatening social cohesion.
- The key to improving housing affordability and help home ownership is to boost supply & encourage decentralisation.
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