Home Ownership levels are dropping in Australia
The proportion of Australian households who own their home – either with or without a mortgage – has fallen from a peak of 71.7 per cent in the early 1990s to 68.7 per cent in March 2013. The rest of households rent, or are in public housing.
More: http://www.news.com.au/…/home-ownership-on-the-way-down-for-most-australians
BUT, is this figure, showing a 3% change upwards, really an accurate impression?
Another way to look at it is this:
Home Ownership levels are Rising in Australia
The proportion of Australian households who own their home – either with or without a mortgage – has RISEN from the 68.4% in 1976, to 68.7% in March 2013.
It did actually peak in at one stage into the 70% range, but in general. It is probably staying basically the same.
Home ownership rates as measured in the ABS Census of Population and Housing, show the following rates:
1971 the home ownership rate was 68.8%
1976 the home ownership rate was 68.4%
1981 the home ownership rate was 70.1%
1986 the home ownership rate was 70.4%
1991 the home ownership rate was 68.9%
1996 the home ownership rate was 69.0%
2001 the home ownership rate was 69.5% or was it 66%
2006 the home ownership rate was 69.8% or was it 65%
2011 the home ownership rate was ?
http://www.abs.gov.au 1370.0 – Measures of Australia’s Progress, 2010
2011 Census: 67% of occupied private dwellings in Australia, are owned. 32.1% were owned outright, 34.9% were owned with a mortgage. 75.6% were separate houses, 9.9% were semi-detached, row or terrace houses, townhouses etc, 13.6% were flats, units or apartments and 0.9% were other dwellings. 2011 Census
2006 Census: 65% were fully owned or being purchased, slightly lower than in 2001 (66%). 75.3% were separate houses, 8.9% were semi-detached, row or terrace houses, townhouses etc, 13.1% were flats, units or apartments and 1.9% were other dwellings with 0.8% not stated. 2006 Census
2001 Census: 66% were fully owned or being purchased.
Compared to:
UK homeownership falls to lowest level since 1988.
The HomeOwners Alliance (HOA) says the UK owner-occupation rate peaked at 69.7% in 2002, but has fallen to 64.7% in 2012.
More: http://www.theguardian.com/…/home-ownership-lowest-since-1988
New Zealand Home ownership rates
In 2007 the New Zealand Household Economic Survey put home ownership at 70 percent. But now in 2012 it is 65 percent. http://www.stats.govt.nz/…/housing-profiles-owner-occupied.aspx
US homeownership rate
After hitting a record high 69.2 percent in 2004, US homeownership rate continued to decline, reaching an 18-year low 65 percent in the first quarter of 2013. http://www.census.gov/…/currenthvspress.pdf
Current levels 2012/13:
- 68.7% Australia
- 65.0% New Zealand
- 65.0% USA
- 64.7% UK
78.1 - 812,797