A new research paper from The Australia Institute reveals that home ownership rates in Australia are falling across all age groups, most significantly for people in their 50’s. Middle income earners are experiencing the sharpest decline in ownership rates.

Housing affordability issues have changed the makeup of the housing market over the last decade. Not only are fewer households able to break into the housing market but those who do hold onto mortgages for longer. Low and middle income households have been affected most by higher house prices with a reduction in both outright ownership and the number of people who hold mortgages. In contrast, households with higher incomes are holding mortgages for longer but are not experiencing as much difficulty entering the market.