CANBERRA, Oct. 16 (Xinhua) -- Around 1.3 million low-income Australian households face housing stress in 2024-2025, spending more than 30 percent of their disposable income on housing, according to a report released on Thursday.
Home ownership rates declined from 50 percent to 36 percent among people aged 25-29 and from 64 percent to 50 percent for those aged 30-34, between 1971 and 2021, said the report by the Australian Institute of Health and Welfare (AIHW), the independent government agency that provides health and welfare statistics.
"Home ownership rates are falling with fewer young people owning their own home," AIHW spokesperson Louise Gates said in a statement.
Between 2014 and 2024, the median transfer price for established houses in capital cities, where most Australians live, increased substantially, Gates said.
Despite a 45,200 increase in the number of social housing dwellings between June 2006 and June 2024, social housing dwellings made up only 4.1 percent of all households in 2024, down from 4.8 percent in 2011, according to the AIHW report.
Specialist homelessness services assisted about 280,000 people in 2023-2024, it said, adding that 45 percent of children and young people aged 15-24 who present alone to agencies for support were still experiencing homelessness when their support ended in the period.
"This report shines a light on how Australians are faring today, providing a comprehensive overview on the welfare and wellbeing of individuals, families and communities across areas like life satisfaction, income, housing, aged care and more," Gates said. Enditem
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