The percentage of home ownership among young people in Australia has shrunk dramatically between generations, according to an official report.
Baby boomers enjoyed a higher percentage of home ownership when they were in their twenties compared to today's youth, according to an analysis by the Australian Institute of Health and Welfare of official data.
In 1976, a majority – 54 percent – of people born between 1947 and 1951 owned a house.
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Baby boomers had it easy when they were in their twenties, according to an analysis by the Australian Institute of Health and Welfare of official data (pictured is a Sydney backyard in 1975)
How the great Australian dream died
BABY BOOMERS: Those born between 1947 and 1951 owned 54 percent of the houses in 1976, when they were between 25 and 29 years old.
Now mainly retired, they had 82 percent home ownership in 2016.
GENERATION Y: Those born between 1987 and 1991 had a percentage of 37 percent of the houses in 2016, when they were in their late twenties.
In four decades that has dropped dramatically to just 37 percent for people aged 25 to 29.
Homeownership has also fallen for Australians in their thirties.
In 1971, nearly two-thirds or 64 percent of 30 to 34-year-olds owned their own homes.
This fell to 50 percent in 2016.
High immigration levels in recent decades have been blamed for steep house price increases
& # 39; Most immigrants move to large cities, leading to an increase in the demand for housing in these areas, & # 39; the AIHW report said.
& # 39; The increase in population in Australia stimulates the demand for housing, other services and infrastructure.
& # 39; Overseas migration has contributed to the increased demand for housing. & # 39;
In 1976, a majority – or 54 percent – of baby boomers born between 1947 and 1951 owned a house (depicted are terraces in the eastern suburbs of Sydney in the mid-70s)
In 1971, nearly two-thirds or 64 percent of 30 to 34-year-olds owned their own homes. This fell to 50 percent in 2016 (pictured are Sydney terraces in 1971)
As the population of Australia has increased, the average house and apartment prices have been compared with the average income levels.
In 2016 and 2017, more than two-thirds or 67 percent of Australia's population growth focused on Sydney, Melbourne, and Brisbane.
Baby boomers have been the major beneficiaries, with their percentage of home ownership up to 82 percent in 2016, for people aged 65 to 69.
Nevertheless, not all older Australians benefit from the rising house prices.
& # 39; The percentage of home ownership has also fallen among people who retire & # 39 ;, it said.
This has been the case, especially since 1996, with the percentage of homeowners among 50 to 54 year olds falling from 80 percent to 74 percent, while older generation X Australians born in the 1960s among those struggling to become a home now to afford.
In 2016, only 37 percent owned Australians aged 25 to 29 with their own home (the photo is a stock image of a young couple)
A house in Sydney, with a median price of $ 877,220, is now 10 times an average, full-time salary of $ 85,000.
A potential borrower must earn $ 156,000 to repay such a loan without having mortgage stress, with a third party or the home of their wages going to repayments.
By the end of the 1980s, an equivalent suburban home in Australia's largest city would have cost five times an average, full-time salary.
In recent decades, the immigration rate in Australia has risen, with skilled migrants and international students who have stimulated the rise and increased rents.
& # 39; International students have also had an impact on the private rental market, especially in large cities & # 39 ;, according to the AIHW report.
Even in 1975, newcomers raised concerns about high house prices with an English migrant (photo) who told the National Film and Sound Archives of the federal government that it was difficult to buy property unless someone was rich
& # 39; Subsequent pressure on housing stocks in these areas underlines the need for coordinated and well-considered strategies for city planning. & # 39;
Australia's net immigration rate in May was 294,430 – a level that was more than four times the 20th century average of 70,000.
Even in 1975, newcomers expressed concern about high house prices with an English migrant who told the federal government National film and sound archive Buying property in Sydney was hard unless someone was rich.
"Australians have the largest number of homes in the world, so I was surprised to find homes that are so expensive here," he said.
& # 39; If you are going to live in Sydney, you should try to get some money and a determination to work. & # 39;
As this graph shows, baby boomers have had a much easier time buying a home than Australians born after them in the Generation X and Y categories
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