HOME ownership among young Canberrans is declining, a major welfare report has found.
The Australian Institute of Health and Welfare report released today (August 2) found fewer than 40 per cent of people aged 25 to 29 owned a home in Canberra in 2021, compared with almost 60 per cent in 1976.
Home ownership rates among people in their early-to-mid 30s have also collapsed. The report revealed fewer than 54 per cent of Canberrans aged 35 to 39 owned a home in 2021, compared to 72 per cent in 1981.
The AIHW report found the rate of home ownership in Canberra was lower for almost every successive bracket since the 1947 to 1951 birth cohort.
The report points to population growth, increased house prices and demand for housing as some of the reasons behind the declining home ownership rates.
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