A quiet revolution in home ownership and housing finance is ushering in a new era for the Australian housing system. The old era was characterised by a relatively risk free housing pathway – departure from the family home was followed by a short period renting during which a deposit is saved, before a home is purchased with the aid of a mortgage. Typically a household’s mortgage was paid off while working so that in retirement couples and singles could live comfortably on the age pension because housing costs were zero. For the small numbers of disadvantaged Australians that could not attain ownership, public housing offered a secure refuge.
This secure pathway has been eroded and most low income households in the early stages of their housing careers are now facing an uncertain housing future. This seminar will document how we have reached this point, and the wider ramifications for the Australian welfare state. It will conclude by exploring policy initiatives that could address emerging issues in the contemporary Australian Housing System.
Gavin Wood is Emeritus Professor of Housing and Urban Studies at RMIT University and Guest Professor, Faculty of Architecture and Built Environment, TU Delft. Netherlands. He also holds and Adjunct Professor position in the School of Economics, Finance and Property Studies, Curtin University, Western Australia. He previously held positions in the economics departments of Murdoch University (Western Australia), the University of Glasgow and University of Aberdeen (Scotland).