More than ever, home ownership matters

8 out of 10 survey respondents believe Australians should be able to own their home and that housing affordability is a top 3 concern. The Housing Industry Association says the survey confirms that The Great Australian Dream is still embedded in the psyche of Australians. The research found that 92% of renters aspire to own their home but less than half of them think they will achieve it.

“Australians see that the government has a role to play in assisting first-home buyers address the biggest barrier, which is the initial deposit,” says HIA chief economist Tim Reardon. “This is because they see that home ownership is important to achieving financial stability in retirement.”

This makes housing affordability a Top 3 issue to Australians - after “the cost of living” and “health and ageing” and ahead of immigration and the environment.

“75% feel it’s more difficult to buy a home now than 10 years ago,” Reardon says. “With an election imminent, 71% believe governments have an important role in helping Australians achieve their dream. Now more than ever, home ownership matters.”

By Terry Ryder