Even taking home ownership in the broadest sense (own outright or paying off) there has been a decrease from 73.2% in to June 1998 to 66.9% in September 2011. Associated with this is an increase in renting from 25.5% to 30.7 in the same period.
Source: Roy Morgan Single Source June 1998 - Sep 2011, 12 month moving average. *Approximately 2% can’t say or live in other forms of accommodation. 12 months to September 2011, n = 52,119.
Analysis by household lifecycle shows clearly that home ownership is still something that takes time – some 69% of Young Couples are renting, while 78% of people in Older Households either own their home outright (46%) or are paying it off (32%).
Home Ownership by Household Lifecycle
Source: Roy Morgan Single Source 12 months to September 2011, n = 52,119 (12 month moving average).
Norman Morris, Industry Communications Director, Roy Morgan Research, says:
“This downward trend in home ownership is partly because of the increased proportion of population paying off mortgages. This is most likely the result of either the increased trend to borrow against the home to do other things or housing affordability issues as a result of the boom in housing prices and interest rate increases. Recently this downward trend in home ownership has accelerated, declining substantially by 2.3% points in the last two years.”
The Roy Morgan State of the Nation Report 9 provides a thirteen-year perspective on Australian Society based on over half a million interviews conducted between July 1997 and September 2011. Thirteen years ago, Roy Morgan Research, and many others, anticipated that Australians would face an increasingly complex social environment that would change both the level of demand for its products and services, and the climate of support for those products and services. In this Roy Morgan State of the Nation Report, we have measured all of these issues and explored in more detail how they have played out, in terms of Society, Technology, Economy, Politics, and Environment.
An extensive range of detailed Roy Morgan profiles on people who live in Capital Cities, States, and Country Regions is available. We also have profiles of people based on how much time they have spent at an address. These profiles provide a broad understanding of people who live in the different geographical locations, in terms of demographics, attitudes, activities and media usage in Australia.
Roy Morgan Research
Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
P: 03 9224 5332