Home owners or forever renters - has Australia's housing market turned a corner?

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New research has revealed the magnitude of rent increases that tenants have experienced in the past 12 months, with half of rent increases in existing tenancies over 10 per cent and one in six more than 25 per cent.

Even so, Australia seems to be shifting from a nation of home owners to one of ' forever renters'."We're moving to a nation where there are many young people who will rent for life."

Meanwhile, the report found that 78 per cent of renters still want to buy a home, but 59 per cent think they never will. "I think people want the option to be able to lay down roots. And that I suppose, is what your home tends to give you. If you've got a lease length that you have a bit more security and length to, it means that you can enrol your children in the local primary school and know that you're always going to be living in the zone or take a job or even do things to the house that improve it.

 

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