Young Australians Hit Record Low Homeownership as Inequality Grows

Anglicare Australia's latest "Falling Behind" report finds that home ownership among Australians aged 25 to 34 has slipped to its lowest point in eight decades, underscoring a deepening generational wealth gap. The analysis links the decline to a combination of precarious employment, higher costs of living, and tax structures that advantage older property investors. While the Albanese government has introduced budget measures to remove tax breaks on investment income, Anglicare's executive director says additional steps, such as taxing wealth similarly to income, are required to curb wealth concentration.

She also called for a reform of the Youth Allowance, noting that its maximum fortnightly payment of $677.20 falls below the poverty line and does not reflect the true cost of rent, groceries, and utilities for young people. The report highlights that a single person on JobSeeker falls short by $251 each week after essential expenses, and no rental property is affordable for someone on that support. These findings suggest that without policy changes, many young Australians will remain locked out of the housing market.