MoneysaverHQ's David Koch on the rent vs mortgage debate.
We’re increasing becoming a nation of renters. Picture: Dave Hunt/AAP
THE dream of home ownership is slipping away for many Australians as the latest Census results highlight the increasing number of renters.
The results released today show the trend towards renting rather than owning continued, with nationwide figures showing a slight change.
Australians who owned their own home outright declined from 32.1 per cent in 2011 to 31 per cent. In the last 25 years this has declined by more than 10 per cent.
Those still paying off a mortgage also decreased slightly from 34.9 per cent to 34.5 per cent.
In contrast those renting increased slightly from 29.6 per cent to 30.9 per cent in 2016.
In more bad news for renters, they are also forking out more, with the median household weekly rent jumping from $285 to...
Read more: Home ownership declining as percentage of renters increases in latest Census 2016 results -...