The proportion of Australians who own their own home continues to sit at record lows, new data has revealed.
The recently released 2019/20 survey data from the Australian Bureau of Statistics found just 66 per cent of Australians own their own home, with or without a mortgage, which is the same as in 2018/19.
Home ownership levels have steadily fallen over the past few decades, dropping to 66 per cent from 71 per cent in 1999/2000 and is the lowest rate of home ownership since the survey began in 1994.
The number of home owners with a mortgage also continues to rise, now at 37 per cent, up from 32 per cent in 1999/2000.
The number of people that own a home without a mortgage has also fallen from 39 per cent in 1999/2000 to 30 per cent now.
The ABS survey also found renters (including state housing) now make up 31 per cent of Australian households, a slight decrease from 32 per cent in 2017/18.
According to the ABS, home owners with a mortgage pay $493 per week in housing costs, which is up 40 per cent from 1999/2000 (adjusted for inflation).
In contrast, renters with a private landlord pay $415 per week, which is 50 per cent higher compared to 1999/2000 (adjusted for inflation).
The average weekly housing costs were highest in the Northern Territory at $381 and lowest in Tasmania at $218.
The number of people in public housing has fallen over the past two decades, with 3 per cent of households renting via a state or territory housing authority – down from 6 per cent in 1990/2000.
Meanwhile, 26 per cent of households rent from a private landlord, which is up from 20 per cent in 1999/2000.
The rate of home ownership is highest in Western Australia at 69.3 per cent and lowest in the Northern Territory at 59 per cent.