Home ownership is an important economic indicator of wealth and saving, and is positively related to employment and income indicators. Home ownership provides a secure asset base that can contribute to financial stability and against which people can borrow.
During consultations for this Report, many Indigenous people said that home ownership was an important part of improving Indigenous wellbeing. Others suggested that not all Indigenous people want to own their own homes, and that those in more remote areas and living more traditional lifestyles may prefer a more communal form of ownership. Information on communally owned land is reported in the section on “Indigenous owned or controlled land”.
KEY MESSAGES
The proportion of Indigenous adults living in homes owned or being purchased by a member of the household increased from 22 per cent in 1994 to 25 per cent in 2004-05 (figure 3.7.1).
In 2004-05, the proportion of Indigenous adults living in homes owned or being purchased by a member of the household in remote (18 per cent) and very remote (3 per cent) areas was much lower than in major cities (29 per cent) and inner and outer regional areas (39 and 32 per cent, respectively) (figure 3.7.2).
In 2002, the most recent year for which both Indigenous and non-Indigenous data are available, a much lower proportion of Indigenous adults (27 per cent) than non-Indigenous adults (74 per cent) lived in homes owned or being purchased by a member of the household (table 3A.7.2).
THINGS THAT WORK
An Indigenous home ownership program, now known as IBA Homes, was established in 1975. It has helped more than 12 000 Indigenous families buy their own homes (box 3.7.2).
In South Australia, HomeStart Finance introduced Nunga Home Loans in March 2004. Almost 300 applicants have purchased homes with a Nunga Loan (box 3.7.2).
The Tasmanian Government provides funding to the Tasmanian Aboriginal Centre to assist Aboriginal and Torres Strait Islander first home buyers with the payment of stamp duties
(box 3.7.2).
Report Chapter 3: Headline Indicators
(PDF document)
Attachment 3A
(Excel document)
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