Almost One In Twelve Australian Capital City Renters Plan To Buy A House This Year: Survey

Almost one in twelve renters in Sydney, Melbourne, Brisbane, Perth of Adelaide plan to buy a house in the coming year as prices climb on record low mortgage rates.

Market research firm Roy Morgan this week reported that of the 11.5 million people aged 14 and over who lived in the mainland state capital cities, 32.4 per cent were renters.

Almost 8 per cent (300,000) of the renters intended to buy a new or established home in the coming 12 months, Roy Morgan found.

Homebuying intentions varied across states, with Perth renters most likely to be on the hunt for a home (10.7 per cent), ahead of Melbourne (9.4 per cent), Adelaide (9.1 per cent), Brisbane (7.0 per cent) and Sydney (5.9 per cent).

Roy Morgan’s findings come after an August 2013 ABS report that found that home ownership fell from 71 per cent in 1994-95 to 67 per cent in 2011-12.

At the time, Sydney University economist Judy Yates pinned the rising proportion of renters on rising costs, telling the SMH that the trend would “exacerbate wealth disparities” across the country.

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