Briefs

Treasurer Scott Morrison, in his recent speech, emphasised the falling proportion of Australian households that own their own home. ‘Home ownership rates are falling across all age cohorts, but particularly for young Australians. Between 2002 and 2014, Australian home ownership among 25–34 year olds declined from 38.7 per cent to 29.2 per cent.

The recent speech by the Treasurer Scott Morrison to the Urban Development Institute of Australia (UDIA) outlined the challenges face by home owners and would-be homeowners, and highlighted a number of findings from AHURI research.

The largest percentage growth in population for Sydney was in the Parramatta area (26.4%), which recorded a growth rate nearly 10 percentage points higher than for the average for the entire greater city (16.7%). Parramatta includes the suburbs of Auburn, Carlingford, Merrylands – Guildford and Parramatta, and also had the largest numerical population increase (up by 95 482 to 456 989 people).

The most recent Housing Occupancy and Costs data from the ABS reveals that the percentage of Q1 and Q2 households who either own their home outright or are in public housing fell in the years between 2000–01 and 2013–14. This shows the shift for lower income households from more secure housing tenures (i.e. outright home ownership and public housing) to the less secure tenures of buying their own home and private rental.

In 2013–14, the cohort of Q1 households had the largest proportion of households who were outright home owners. It is likely many of these Q1 households comprised retired householders living in the homes they bought when they were working and are now on government support such as age pensions.