{{ propApi.closeIcon }}
Our industry
Our industry $vuetify.icons.faArrowRight
Economic research and forecasting Economics Housing outlook Tailored market research Economic reports and data Inspiring Australia's building professionals HOUSING The only place to get your industry news Media releases Member alerts Submissions See all
Business support
Business support $vuetify.icons.faArrowRight
Become an apprentice host Hire an apprentice Why host a HIA apprentice? Apprentice partner program Builder and manufacturer program Industry insurance Construction legal expenses insurance Construction works insurance Home warranty insurance Tradies and tool insurance Planning and safety services Building and planning services How can HIA Safety help you? Independent site inspections Solutions for your business Contracts Online HIA Tradepass HIA SafeScan HR Docs Trusted legal support Legal advice and guidance Professional services Industrial relations
Resources & advice
Resources & advice $vuetify.icons.faArrowRight
Building it right Building codes Australian standards Getting it right on site See all Building materials and products Concrete, bricks and walls Getting products approved Use the right products for the job See all Managing your business Dealing with contracts Handling disputes Managing your employees See all Managing your safety Falls from heights Safety rules Working with silica See all Building your business Growing your business Maintaining your business See all Other subjects COVID-19 Getting approval to build Sustainable homes
Careers & learning
Careers & learning $vuetify.icons.faArrowRight
A rewarding career Become an apprentice Apprenticeships on offer Hear what our apprentices say Advice for parents and guardians Study with us Find a course to suit you Qualification courses Get your builder's licence Learn with HIA
HIA community
HIA community $vuetify.icons.faArrowRight
Join HIA Sign me up How do I become a member? What's in it for me? Get involved Become an award judge Join a committee Partner with us Get to know us Our members Our people Our partners Mates rates What we do Mental health program Charitable Foundation GreenSmart
Awards & events
Awards & events $vuetify.icons.faArrowRight
Awards Awards program Professional Builder / Renovator GreenSmart Industry networking Events Australian Housing Awards National Conference Building and Renovation Home Show HOMEFEST
HIA products
HIA products $vuetify.icons.faArrowRight
Shop @ HIA Digital Australian Standards Contracts Online Shipping and delivery Purchasing terms & conditions Products Building codes and standards Economic reports Hard copy contracts Guides and manuals Safety and signage See all
About Contact Newsroom
$vuetify.icons.faTimes
$vuetify.icons.faMapMarker Set my location Use the field below to update your location
Address
Change location
{{propApi.title}}
{{propApi.text}} {{region}} Change location
{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location

$vuetify.icons.faPhone1300 650 620

Restore home ownership

Restore home ownership

Over the past two decades the rate of home ownership has declined across the country. Critically, home ownership among households aged 25-29 has dropped from 43 to 37 per cent over the past decade.

Twenty years earlier the rate of home ownership among this age group was more than 50 per cent.

However, the ‘Australian dream’ of owning your own home remains as strong as ever.

Research commissioned by HIA found that 75 per cent of Australians believe everyday Australians should be able to own their own home. Furthermore, the research found that 85 per cent of renting households aspire to own their own home, yet only 42 per cent of these households feel they will achieve this aspiration.

The pandemic has changed people’s approach to housing. The type of home people prefer, the location and the way they use their home have all changed. Post pandemic, many more Victorians also see their home as their workplace, their retreat and a key part of their future financial stability.

Stimulus measures for housing generally focus on first home buyers. But there are many instances where households have faced hardship, such as family break down or illness, and those who have fallen out of home ownership, or who could re-enter the market with support.

As many older households seek to downsize to homes that better meet their needs, they need to be able to make this transition without a tax burden.

 

HIA calls on an incoming government to

 

Work with industry to develop a strategy to reverse declining rates of home ownership

Reduce stamp duty by indexing property price thresholds for the first home owner grant and stamp duty exemptions and concessions to reflect the recent increases in home prices

Expand the current scheme for first home buyers to co-purchase their home with the Victorian Government

Introduce targeted measures to assist non-first home buyers re-entering home ownership

Introduce stamp duty concessions and exemptions for over 65-year-olds downsizing into a new home

Enable better planning policies to facilitate redevelopment within existing urban areas to provide downsizing households with greater housing options within their own community.