Housing
Housing

Aussies less likely to own (and build) home

YOUNG Australians are finding it harder than ever to own their own home, as they sink more and more money into everyday living expenses - with Queenslanders forking out the most.

Australians feel less safe walking home at night than most other first world countries, but have a better life expectancy and more disposable income.

It is part of a snapshot into how Australians are doing contained in an Australian Institute for Health and Welfare report to be released on Wednesday.

Young workers are also shying away from learning a trade, with the lowest number of new apprentices starting training in 20 years recorded last year.

It fell to just 161,700 new apprentices, less than half the 377,000 in 2012.

The number of young people who own their home has dramatically fallen.

While in 1971 half of people aged 25-29 owned their home, this has slipped to 37 per cent.

Home ownership for 30-34 year olds has slipped from 64 per cent to 50 per cent in the same time frame.

Housing costs as a proportion of income were the highest in Queensland compared to other states, reaching 14.8 per cent of our take home pay.

Newlyweds Sharn and Tori Redshaw, both 28, said it's "almost impossible" to buy a home in an area of Brisbane where they would want to live.

"The problem is you can't pay rent and save for a deposit at the same time," Mrs Redshaw said.

"So many people have to move back home 12 months before they buy property which isn't going to work for us."

Social Services Minister Anne Ruston said the Government would launch the First Home Loan Deposit Scheme in January next year to help young people get into the property market.

The report found that booming population, particularly in capital cities, was driving the housing problems, with two-thirds of population growth last year occurring in Brisbane, Melbourne and Sydney.

"Overseas migration has contributed to the housing demand. Most immigrants move to major cities, leading to an increase in demand for housing in these areas," the report stated.

"The subsequent pressure on housing stocks in these areas highlights the need for co-ordinated and well considered urban planning strategies."

It also found that about one-third of Australians did not feel safe walking home alone at night, making it 27th out 35 Organisation for Economic Co-operation and Development (OECD) countries.


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