In recent decades, Australia's overall housing ownership rate has been steadily declining.
According to the 2016 census, the Australian homeownership rate has fallen by 6% over the past 10 years. High land costs and inadequate supply are the main factors contributing to the decline in housing ownership, said Assistant Social Services Minister Sassaga (Zed Seselja).
(Malcolm Turnbull) goverment is planning to co-operate with the states on a new national affordable housing agreement and has proposed a pension to help young people buy homes in the budget.
The report also found a 62 percent (or A $144) increase in average weekly rental costs over the past 20 years. In OECD countries, Australia's overall home ownership rate ranked third last, while mortgage buyers ranked in the top three.
The report also found that 394000 households lived in social housing in 2015-16, up 4 percent from 2007-08. Another 195000 families are still waiting for a social housing list.