The Morning Edition How the 'Great Australian Dream' of home ownership has changed
Mar 16, 2026
Caroline Zielinski, a property reporter on housing and affordability in Australia. She traces the postwar rise of homeownership, explains policy and tax drivers behind rising prices, and explores how people now adapt by moving farther out, renting or compromising on lifestyle. Political barriers to big reform also come up.
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Booster Era Homebuying Story
- Neil Robertson bought a rundown Fitzroy terrace for $7,500 and paid about $1,500 deposit, then roughly $100 a month to finish paying it off.
- He and peers fixed houses room by room, often paid mortgages off by age 30–40 and sometimes bought extra properties as nest eggs.
Homeownership Framed As Civic Policy
- Postwar policy treated homeownership as civic duty, with leaders like Robert Menzies promoting ownership to give citizens a stake in the country.
- Governments built nearly 20% of homes in the 1950s and introduced a 1963 homeowners grant that shifted policy toward boosting demand.
Policy Shift Made Homes An Investment
- Policy changes since the 1970s turned housing into a wealth vehicle via capital gains concessions and investor-friendly settings.
- Zoning and redevelopment limits kept supply low in high-amenity inner suburbs while growth pushed detached housing to distant greenfield sites.