Poll shows importance of home ownership

Research shows housing affordability is a top-three concern after cost of living and healthcare and ageing.

A POLL released today shows a high percentage of people believe owning your own home makes you more financially secure.

The poll carried out by JWS Research shows more than 92 per cent of renters aspire to own their own home but only 49 per cent of them think they will achieve this dream.

Housing Industry Association chief economist Tim Reardon said the Australian dream of owning a home was still embedded in the psyche of Australians.

He said the independent research carried out in December last year and released on Sunday, March 3 provided an insight into the community’s sentiment toward home ownership and housing affordability.

“Australians see that the government has a role to play in assisting first home buyers address the biggest barrier to home ownership, which is the initial deposit,” he said.

“This is because they see that home ownership is important to achieving financial stability in retirement.

“The research also found that 71 per cent are concerned that those unable to achieve this goal will face financial challenges in retirement.

“The importance of home ownership for financial security makes housing affordability a top three issue to Australians at the next election after the cost of living and ‘health and ageing’ and ahead of immigration and the environment.

“Of concern is the fact that 75 per cent of Australians feel that it is more difficult to purchase a home now than 10 years ago.

“With a federal election imminent, it is important to recognise that 71 per cent of people believe governments have an important role in helping Australians achieve their dream.

“The importance of home ownership to Australians couldn’t be clearer.

“Now more than ever, home ownership matters.”