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Fewer than half to own homes: new report

Depositphotos_11022297_xs.jpgFewer than half of Australians could own their own home by next year, a new report shows.

The Melbourne Institute report author Roger Wilkins says the high cost of real estate is putting pressure on the younger generations, while older generations benefited from the large increases in house values.

The number of owner-occupied houses fell by 3.5 percentage points - or 700,000 homes - between 2001 and 2015 and is likely to decline further.

"It is likely that in the next few years less than half of adults will be home-owners," report author Professor Roger Wilkins said.

The HILDA Survey has been running since 2001, and about 17,000 Australians are interviewed yearly to create a comprehensive picture of the nation, spanning topics that include household finances, employment, family life and health

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