Home ownership among young Australians falls by more than 33%

Home ownership among young Australians has fallen by more than one-third in the past 25 years, according to a major welfare report.

Australian homes are seen from a commercial aircraft over the Sydney suburb of Eastlakes, New South Wales, Australia, Source: AAP

The Australian Institute of Health and Welfare has found that the proportion of Australians who own their properties has fallen from 71 to 67 per cent.

 

The government is working on a national affordable housing agreement, with measures such as allowing young people to save for their first home through their superannuation.

 

Assistant Social Services Minister Zed Seselja has told the Nine Network factors such as lack of land in major cities has been a big issue.