2026-06-15
The third hearing of the Greens-led Senate inquiry into intergenerational housing inequity, has painted a picture of younger generations being ripped off, locked out of the housing market, forced into insecure housing and delaying major life decisions.
Evidence to the committee today showed:
- Australian house prices are now at historical highs and are approaching the most extreme levels recorded internationally when measured against household income.
- Older Australians’ wealth growth has dramatically grown in the past 20 years, due to home ownership and super. Whereas. younger generations are increasingly locked into insecure, high-cost rental arrangements with little prospect of transition into ownership or stable long-term housing.
- Around 60% of private renters are young people
- 81 per cent of Gen Z and Millennials say the cost of housing has affected the timing of major life decisions.
- Home-ownership rates are falling particularly fast among younger, poorer Australians.
- 35 years ago, most low-income younger households owned their own home. Today, only about one in five do.
- The confluence of a precarious labour market, stagnant wages, higher HECS debt and super is preventing young people from accessing home ownership, however, housing affordability is the biggest barrier.
- There’s a growing reliance on the bank of mum and dad, which entrenches inequality over time.
- More than 57% (more than 1 in 2) parents have helped their children buy a house in the last 10 years.
- More children are growing up in families experiencing homelessness. Children and young people who lack a safe and affordable home often go on to experience repeat homelessness, which perpetuates intergenerational inequality.
Lines attributable to Greens spokesperson for finance, housing and homelessness and Senator for South Australia, Barbara Pocock:
“Young people have drawn the short straw on housing in this country. Successive governments have failed young people.
“With record house prices, unlimited rent increases, sky high rents, insecure contracts, and record low vacancy rates, young people don’t stand a chance of getting a safe and secure roof over their heads.
“Young people are literally putting their lives on hold because of the housing crisis. They are remaining living with their parents into their 30s, putting off studying or delaying marriage and having children.
“If that wasn’t enough, young people also face massive HECS debts, a precarious labour market, wages lagging behind inflation - all in a cost of living crisis.
“Young people are looking at their futures and asking why the government has screwed them?
“The lack of safe and affordable housing in our country is perpetuating the cycle of homelessness and entrenching intergenerational housing inequality.
“Reliance on the bank of mum and dad shouldn’t be how young people get into the housing market - it's creating an intra-generational divide.
“We urgently need to dampen investor incentives, such as CGT discount and negative gearing, and build more social and affordable housing directly. Without this, entire generations will be left behind and that’s on the government.”
MEDIA CONTACT:
Charlotta Lomas - 0466 339 862