Radio National Breakfast First home buyers face toughest housing market in history
Feb 26, 2026
Peter Mares, independent housing researcher and author of No Place Like Home. He discusses how entry-level prices have surged and saving a deposit now takes years. He highlights widening generational and class divides in home ownership. He explores why some cities fare better and argues tax and supply changes could reshape affordability.
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Homeownership Creating A Wealth Divide
- Homeownership is increasingly concentrated, creating a divided society of homeowners and renters.
- Peter Mares warns this trend concentrates wealth through property and shows current fixes haven't worked since his 2018 book.
Younger And Lower Income Groups Falling Behind
- Homeownership rates are falling overall and faster among younger and lower/middle income groups.
- Peter Mares frames this as both a generational and class issue, worsening intra-generational inequality.
Canberra's Tax Shift Eases Entry Barriers
- Canberra's relative affordability stems from higher per capita incomes, substantial apartment construction, and moving off stamp duty toward a broad-based property tax.
- Mares says spreading costs over time reduces upfront barriers and encourages better housing choices.
