As Australia's housing market continues to be a hot topic, recent census data reveals fascinating insightsinto the winners and losers of the home-owning game. Whoactually owns Australia's homes? The answerprovides an engaging narrative on the country's social fabric and paints a vivid picture of modernAustralia.
Age & Homeownership:
One of the key indicators of homeownership is age. The longer someone has beenin Australia, the morelikely they are to own a home. It's not surprising given that skilled immigrants usually arrive in their late20s or 30s. Data shows that around half of this group reports owning a home within a decade of arriving.This percentage shoots up to more than 80% by the time they reach their sixth and seventh decades inthe country.
The Working Life
Occupation plays an interesting role. In industries like agribusiness and alumina production, the rate ofhomeownership is notably higher.The logic might lie in the possibility of extra earnings from overtime.On the flip side, those working in pubs, cafes, and call centres are less likely to own a home. Even amongyounger workers, like baristas and bar attendants, only 40% manage to buy a property.
Regional Variations
Location also matters. In suburbs like Gisborne, Bacchus Marsh, and Camden Haven, over 80% of primaryreference persons own their homes. Contrast that with areas like Port Hedland and Karratha, where the figure dips to as lowas 27%. Such variations reflect the core values of Australians and immigrants alike.The Australian dream of homeownership spans decades, and most people achieve it by the time theyretire.
The Quintessential Homeowner
So, who is the quintessentialAustralian homeowner? Census evidence suggests it's likely a woman in herlate 60s or 70s, a Christian, possibly a former secretary, who arrived from Malta in the 1960s. Today, shelives on an acreage in Gisborne on Melbourne's outskirts.
A Question of Cohesion
But here lies the twist: what happens when the younger generation feels locked out of the housingmarket? The Australian dream remains a core aspiration, and much of our social cohesion relies on thebelief that it's attainable at different stagesof life.The data isn't just numbers; it's a narrative of a nation willing to strive for a home of their own. And whilethe picture may differ from one suburb to the next or one profession to another, the dream persists. Whatremains to be seen is how this dream adapts to new challenges and whether it remains attainable for all,irrespective of age, job, or origin.First National Real Estate wants everybody to find the right, most affordable home. That’s why we putYour Patch on our website. Using the latest Census data, we can help you discoverthe suburbs ofAustralia that offer the types of housing you’re looking for, to buy or rent, and we share valuableinformation with you on the average mortgage or rental costs of living in those areas. Find your Patch here...
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