AFTER A 15-YEAR DECLINE, SOMETHING CURIOUS HAS HAPPENED TO HOME OWNERSHIP RATES, CENSUS DATA SHOWS

The first lot of results from the 2021 Census released today shows 67% of Australian households owned their home, outright or with a mortgage, in mid-2021.
While the figure was down 0.2 percentage points from 2016, this is tiny compared to the 2.7 percentage point decline observed over the previous decade. Prior to 2006, home ownership rates had been mostly stable for 40 years, before a 15-year decline kicked in. So, what has changed recently to stem the decline in home ownership rates?Government policy support has enabled more first-home buyers into the market
More first-home buyers have been able to buy in recent years. We saw the largest number of first home buyers in 2021 than at any point since 2009.

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