Fall in ageing Australians’ home-ownership rates looms

According to data from the Australian Bureau of Statistics Survey of Income and Housing, home-ownership rates among Australians aged 55-64 years dropped from 86% to 81% between 2001 and 2016. Mortgage burdens have spiked in the 55-64 age group. In 2001 roughly 80% were mortgage-free. By 2016 this had plummeted to only 56%. Indebtedness is even growing among owners aged 65 and over.

Majority of Australian tenants are living in rental stress

The Rental Affordability Survey of more than 2,000 renters across Australia in April revealed that 53 per cent of tenants reported spending one-third to a half of their weekly income on rent. Rental stress occurs when a person pays more than a third of their income on rent.
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