LEVELS OF HOME OWNERSHIP

Home ownership is a widely held aspiration in Australia, providing security of tenure and long term economic benefits to home owners. Owning a home can also bring social and cultural benefits such as a sense of belonging. For some home owners, the dwelling and the land on which it stands is a major asset, and for many it is their main asset.

Home ownership rates have been fairly stable at around 70% for many decades. As measured in the ABS Census of Population and Housing, in 1971 the home ownership rate was 69% and in 2006 it was 70%, with small fluctuations around 70% in the intervening Censuses.