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:
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.