Australian Housing Market: Renters Giving Up Home Ownership Dreams

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Australia is heading towards a nation of renters, not homeowners.
Three in five Australian renters now expect to never own their own home. This shift in attitude is supported by new research from the Australian Housing and Urban Research Institute (AHURI).

The AHURI research shows four out of five renters (78%) aspire to be homeowners. However, 51% of tenants rent because they don’t have enough money for a home deposit, with 41% saying they can’t afford to buy anything appropriate.

Between 2011 and 2021, the proportion of people renting increased in all age brackets. Over the next 20 years, rental rates are expected to keep growing with outright home ownership forecast to fall from 67% to 63%.

#Australia #HousingMarket #Renters #Homeownership #AHURI

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Housing Market
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Homeownership

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