Property ownership rates in Australia vary dramatically by age group. Older Australians have significantly higher rates of outright homeownership, having had more time to pay down mortgages and accumulate property wealth. Younger Australians face the lowest homeownership rates in decades due to rising property prices relative to incomes.
The ABS Survey of Income and Housing provides detailed data on homeownership rates across Australian age groups and income levels, capturing both outright owners and those still repaying a home loan.
Declining homeownership rates among younger Australians have significant implications for retirement incomes. Australians who retire without owning their home face ongoing rental costs that can significantly reduce their standard of living.
Data sourced from ABS Survey of Income and Housing and ABS Census of Population and Housing. Updated biennially.