Home ownership rates in Australia continue to fall as prices on the raise. Recent census statistics found that most of the population of home owners and tenants are facing so much stress to pay rent and mortgage.
The 2016 census data released by the Bureau of Statistics on Tuesday (June 27th) shows that home ownership rates declined for a quarter of a century, with only 31 percent of Australians own their homes full right after paying their mortgage.
This figure is less than 32.1 percent as reported in 2011 census, and only 10 points higher since 1991, when more than 40 percent of Australians could afford paying their homes mortgage.
The big shift in this year's data is happening within the rental market, with 31 percent of Australians renting their homes, more than 29.6 percent in 2011 and down from 1991 at 27 percent.
However, the new data shows that the families living in Perth, Sydney and Melbourne are under pressure because of mortgage payments, with about one in ten families in Perth allocating more than a third of their income to repay mortgage.
Census statistics also provided evidence of the role migration has played in rising house prices in cities.
