One minute read
Some 1.1 million new homes have been built across Australia over the past decade.
According to the census, most were detached houses, followed by townhouses and then apartments.
With regard to housing tenure, in this Missive, we have included two tables.
Australia, change in housing tenure, 2006 to 2016
- Also read:Everything you need to know about the state of Australia’s property markets in 20 charts – December 2023
- Also read:Latest property price forecasts for 2024 revealed. What’s ahead in our housing markets in the next year or two?
- Also read:Sydney property market forecast for 2024
- Also read:What makes an A-grade property?
- Also read:Common home buying mistakes and how to avoid them
Australia, current housing tenure, 2016
A 10 second summary:
- Detached houses remain mostly held by owner occupiers. But most growth in owners with a mortgage.
- Townhouses are a fifty-fifty split between owner residents and investors.
- Apartments remain in the investor realm and increasingly so.
When it comes to rental property, only half are managed by real estate agents.
A further 25% are rented via a government arrangement/agency or employee, with the remaining quarter held by a relative or friend of the tenant.
Putting aside survey bias, these statistics suggest that real estate surveys, such as vacancy rates, represent only a proportion of what’s going on in the rental market.
Keen to hear your thoughts.