Sydney home ownership rate hits 70-year low
A new KPMG report shows Sydney's home ownership rate has fallen to its lowest level in 70 years. The report finds that rising housing prices and constrained supply are pushing an increasing share of households into renting instead of owning.
A new report from KPMG found that Sydney's home ownership rate has fallen to its lowest level in seven decades. The report says rising housing prices combined with constrained supply are pushing a growing share of households toward renting rather than buying.
The analysis shows younger households and first-time buyers in particular are being increasingly priced out of the market. Experts say if the trend continues, it could produce longer-term shifts in the city's socioeconomic makeup.
Housing affordability has remained a long-running political issue in Australia. Government officials say they are reviewing supply-boosting policies, though the report suggests current measures have so far fallen short.
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