Home ownership data from the 2021 Census show a home ownership rate of 67%, down from 70% in 2006. While the home ownership rate remained around 67–70% from the early 1970's, the rate for different age groups has varied markedly over this time.
Of the six million people who lived in a home owned outright, 875,176 had a weekly income of $4,000 or more, while from almost 10 million paying off a mortgage, 2.4 million were in the same wage bracket.
The way Australians live is becoming increasingly diverse, with fewer households owning their home outright and more people living in apartments, according to the 2021 Census.
Australia had an average household size of 2.59 people in 2021. The indicator recorded a year-on-year decline of 1.1% in 2021. Between 2010 and 2021, the indicator decreased by 1.9%. The average household size in Australia was highest in the year 2011 and lowest in the year 2021, between 2010 and 2021.
Assuming that the average mortgage age in Australia starts somewhere between 25 and 34 years, then to work out the average age to pay off a mortgage in Australia, you just need to add a 25 to a 30-year term. This would make the average age to pay off a mortgage in Australia between 50 and 64 years.
1.6% of Australians own 2 investment properties.
More than 80 per cent of Australians live within the coastal zone.
Figures show the average age for men to leave was about 24 in 2019, up from closer to 23 almost two decades ago. For women, the average age to leave in 2019 was after they reached 23, compared to closer to 22 in 2002.
“Queensland's known as the Sunshine State. All those rays and the laid-back lifestyle might be among the reasons why it's Australia's happiest state,” Bayliss said.
The average yearly salary in Australia is 90,800 AUD (USD 60,709).
Australia is one of the most urbanised nations, with 90 per cent of the population living in just 0.22 per cent of the country's land area and 85 per cent living within 50 kilometres of the coast.
Housing tenure
Almost one third (31%) of Australian households rented their home in 2019–20, a decrease from 32% in 2017–18. Around two thirds (66%) of Australian households owned their own home with or without a mortgage, unchanged from 2017–18.
Of the 122,494 people experiencing homelessness in Australia in 2021: Two in five (39.1%) were living in 'severely' crowded dwellings. One in five (19.8%) were in supported accommodation for the homeless. One in six (18.1%) living in boarding houses.
Income. This is the most important factor in determining how much you can borrow on your home loan. As a guide, it's best if your repayments don't exceed 30% of your after-tax salary. Use our calculators to get a good idea of what your repayments will be once you start making mortgage repayments on your new loan.
Comparing across the states, over 60% of Victorian young adults live with their parents, followed by 56% in New South Wales and approximately 53% in the other four states.
While each person and situation are different, many people think that it's best to move out of your parents' house between the ages of 25 and 26. However, don't get fixated on these numbers. They're only meant to serve as a guideline. You may be ready to move out at a different age.
The mean age of people buying their first home in Australia has edged up from 33 for either a new or established dwelling in 1995–96 to 35 for a new dwelling and 36 for an established dwelling in 2017–18. Figure 1: Age bracket of first home buyers (by percentage) in 1995-96 and 2017-18.
Queensland has always been popular with retirees thanks to its all-year round sunshine. An hour's drive north of Brisbane, the Sunshine Coast boasts beautiful beaches and a relaxed community feel that's a little bit quieter than its southern counterpart, the Gold Coast.
Australia's biggest private landowners, pastoralists Donny and Colleen Costello and their equity partner, former racing horse trainer Viv Oldfield, have extended their vast cattle station empire to more than 9.2 million hectares, after acquiring Mount Doreen Station in the Northern Territory for around $70 million.
The mining magnate Gina Rinehart is Australia's biggest landholder, controlling more than 9.2m hectares, or 1.2% of the entire landmass of the country, according to data compiled by Guardian Australia.
This might be around three affordable homes, roughly $700,000 each in value, which is quite achievable for many Australians. The thinking behind this is that, assuming you receive a 4.5% rental return or yield on investment, you'll receive $90,000 per year in annual rental income to live off.