Home Ownership in decline

Home ownership in sharp decline
Australia’s declining rates of home ownership are an indication that governments across the country have failed to address the issue of housing affordability.

The Household, Income and Labour Dynamics in Australia Report (HILDA), released this week, shows that entry-level properties are more expensive than ever and home ownership is dropping.

The report revealed that the number of owner occupied households dropped to 64.9% in 2014, from 68.8% in 2001.

Over the same time, the number of Australian adults who actually own their own home fell from 57% to 51.3%.

Home ownership among Gen Y – those aged between 25 and 34 – declined from 38.7% in 2002 to 29.2% in 2014.

Among persons aged 35–44, home ownership declined from 63.2% to 52.4%, and among persons aged 45–54, it declined from 75.6% to 67.4%.

There was also a slight decline in home ownership among persons aged 55–64, from 75.1% in 2002 to 72.9% in 2014. There was essentially no change in home ownership among those aged 65 and over.

Markets set to split as house prices grow, unit prices lag
The Australian property market is set to diverge somewhat through the remainder of 2016, as house prices continue their upward trajectory while unit prices lag.

Figure from Domain Group’s June Quarter House price report show that house prices increased in the majority of capital cities over the three month period, while only three markets saw an improvement in unit prices.

“With the prospect of further interest rate cuts, it’s likely that house prices will continue rising in 2016, as improved affordability stimulates a surge in market confidence for both buyers and sellers,” Domain Group senior economist Andrew Wilson said.

“Unit price growth is also lagging behind houses, with record apartment building pushing supply ahead of buyer demand,” Dr Wilson said.

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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