Home ownership has declined particularly among younger and poorer people, a parliamentary inquiry into housing affordability has heard.
Australia’s overall home ownership rate has fallen from about 70% to 66% over the past 20 years, with lower income earners and younger people bearing the brunt.
Lower income earners’ home ownership rate has declined from 68% to 61%, while for those aged 25-34 it has decreased from 52% to 37%.
