news

Australia lags in home ownership

0

Australia’s housing undersupply has been recognised on a world scale, with research unveiled in the newly published Organisation for Economic Cooperation and Development (OECD) report revealing that Australia’s home ownership rates are pale in comparison to international trends.

While many countries have experienced surges in rates since the 1990’s, Australia is one of just five countries to record a decline, according to Urban Taskforce’s chief executive Aaron Gadiel.

“Australia is grouped with Greece, Mexico, France and Luxembourg as countries where an increased share of the population can’t access a home of their own.

“Our citizens are losing the ability to have a home of their own, while in other countries more people are enjoying the benefits of home ownership,” he said.

Mr Gadiel steadfastly believes that Australia’s national housing undersupply of 200,000 homes is the result of our urban infrastructure system and has not been given the immediate attention it deserves.

“Our town planning laws, high development levies and lack of urban infrastructure investment have deprived Australia of the housing we need.

“The current situation is unsustainable but federal, state and local governments haven’t given this issue the priority it deserves,” he said.

The only way to improve Australia’s current position, Mr Gadiel believes, is for the Australian Government to step up and take action against the growing home ownership crisis.

Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
PAMBULA 42%
2.
MILSONS POINT 41.26%
3.
SPEERS POINT 39.69%
4.
SPRINGWOOD 37.72%
5.
ILUKA 36.3%