A new Resolve Political Monitor survey shows that 63% of Australians now believe the young will never be able to buy a home, compared to 57% a year ago.
The results were even worse when younger Australians ages between 18 to 34 answered for themselves, with 72% believing they will never be able to by a home:
An OECD report released in July 2022 revealed that Australian home ownership rates have collapsed, especially across younger and poorer Australians:
The median age of a first homebuyer in Australia has also ballooned by around 10 years this century, from 24 years in 2002 to 34 years in 2022:
With the Albanese Government ramping immigration to record levels, the housing situation facing younger Australians will only get worse.
The Intergenerational Report (IGR) projected that net overseas migration (NOM) will increase to an average of 235,000 people a year indefinitely, which is 20,000 more than the 15-years of ‘Big Australia’ immigration pre-pandemic:
This extreme immigration will grow Australia’s population by 13.1 million people (50%) over the 40 years to 2062, according to the IGR, which is the equivalent to adding a combined Sydney, Melbourne and Brisbane to Australia’s existing population:
I can think of few worse policies for younger Australians seeking a home than making them compete for housing against hundreds of thousands of new arrivals each and every year.
