Renting into retirement: a national policy factsheet
Over the last 20 years, however, housing affordability has worsened and homeownership rates have been falling. Renting is increasingly becoming a destination tenure, rather than a stepping stone to homeownership, especially for those on lower incomes. While currently older people still make up the majority of homeowners, young to mid-age cohorts are delaying home purchase and many are unable to afford their own home. This will have flow on effects in the coming decades, meaning they will still be renting when they retire, or they will retire with significant mortgage debt.
