Australia’s housing market is big!
There are approximately 9,000,000 dwellings in Australia with a total value of around $6.2 trillion according to Corelogic. The 2011 Census found that 67 per cent of households own their home or are purchasing it through a mortgage – most of the rest are renters.
The proportion of home ownership has been fairly stable for more than fifty years, after rising from 53 per cent in 1947 to 63 per cent in 1954 and hitting 70 per cent in 1961.
The following chart from the A.B.S. helps you understand the breakdown of home ownership vs renting: