Home ownership in Australia

Home ownership in Australia is considered a key cultural icon, and part of the Australian tradition known as the Great Australian Dream of "owning a detached house on a fenced block of land." Home ownership has been seen as creating a responsible citizenry; according to a former Premier of Victoria: "The home owner feels that he has a stake in the country, and that he has something worth working for, living for, fighting for."

By 2021, there were more than 10.8 million private dwellings in Australia, each with an average of 2.6 occupants, where 70% were separate houses, 13% were townhouses and 16% were apartments. Around 1 million of these dwellings were reported unoccupied. Two thirds of households owned their home outright or with a mortgage. The remainder were rented dwellings.

Owner-occupied housing in Australia is not treated as an investment asset. Mortgage interest is not tax deductible as, for example, in the United States. An owner-occupied residential home is not subject to the capital gains tax on sale and is not counted in the assets test for Centrelink pension purposes. It is also not taxed for land tax, although such taxes are traditionally determined at a state level.

In the past, home ownership has been described as equalising; in postwar Australia, immigrant Australians could often buy homes as quickly as native-born Australians. Additionally, Australian suburbs have been more socio-economically mixed than those in America and to a lesser extent Britain. In Melbourne, for instance, one early observer noted that "a poor house stands side by side with a good house."

There are significant regional differences in rates of homeownership around Australia, reflecting average age differences (e.g., older age people tend to own houses more than younger people), as well as socio-economic differences.