Steep drop in home ownership is a worry especially amongst young people. http://snip.ly/o8cd1
Figures in the recent Household, Income and Labour Dynamics in Australia (HILDA) survey revealed a steep drop in home ownership amongst people under 40 from almost 36 per cent in 2001 to just 25 per cent in 2015.
Dr Greg Schwann, Associate Professor of Finance at the University of Melbourne and an expert in housing and mortgages, says many crucial factors have led to the prohibitively high prices that are now locking out first home buyers.
“Australian cities are growing rapidly, more than any other cities in the world,” says Dr Schwann.