28/09/2026
The 2026 Intergenerational Report gives us a confronting glimpse of the answer.
Over the past 20 years, the share of recent retirees living in private rental has doubled. At the same time, outright home ownership among retirees has fallen from 75% to 66%.
And the consequences are profound. For retired private renters, housing now consumes 40% of household expenditure. Most strikingly, 67% of retired private renters live in poverty, compared with just 11% of retired homeowners.
These figures matter well beyond today’s generation of retirees. Home ownership among households aged 25–34 has fallen by 17 percentage points since 1981. Housing prices are now around eight times average full-time earnings, while the time required to save a 20% deposit has risen to 11.2 years. This means we need to think differently about housing and ageing.
Australia’s retirement system has historically worked on an assumption that many people will enter retirement owning their home. Increasingly, that assumption will not hold.
As our population ages, secure and affordable housing for older Australians cannot be treated as a marginal part of housing policy. It needs to become a core part of how we plan for ageing in Australia.
For Faith Housing Australia's members, that means looking beyond home ownership alone: at how we create a much larger supply of social, deeply affordable and secure rental housing for older people, and how existing housing and land can be used differently to meet that need.
The Intergenerational Report is looking 40 years ahead. Our housing system needs to do the same.