Fewer and fewer Australians own a property. Census data in 2021 shows a national homeownership rate of 67 per cent, down from 70 per cent in 2006. For younger generations, the decline is even more stark, with just half the population among those aged 30-34 owning a home, down from 64 per cent in 1971.

Many young workers are not only priced out of the housing market, but no longer view homeownership as a desirable goal or foundation of wealth creation, according to new research from demographer McCrindle and wealth manager Insignia Financial.