census

The data gathered from the 2011 census has been able to shed interesting light on the current structure of home ownership in Australia and how it has changed over time.

In the 1961 census, the metropolitan area of Melbourne had 518,476 occupied dwellings, compare with 1.49 million last year. Whilst this is an expected increase in numbers given our growing population, it is the nature and level of ownership, divided between owners and renters, that shows an interesting shift.

In 1961, 73% of homes were either owned outright or being bought. This percentage dropped to 70% in 2001 and 67% in 2011. Not only has the proportion dropped but these !gures show that the change has been accelerating.

Even more noteworthy is the balance between those who own their home outright and those paying off a mortgage. In 1961, a total of 42% of homes were owned outright. Over the next 40 years that measure did not change substantially. Then, between 2001 and 2006 it fell to 33% and then in 2011 to 31%. In just a decade Melbourne has become a city whereby those with mortgages outnumber those who own their homes outright.

Other 2011 Census data revealed the following stats: the average household comprises 2.6 people, the median weekly household income is $1333, the median monthly mortgage repayments are $1810 and the median age across Melbourne is 36 years.

Data sourced from the REIV and Australian Bureau of Statistics.