Home ownership rates continue to fall

Nearly a third of households are renting as people move further away from home ownership, according to new data.

The Australian Bureau of Statistics shows 27 per cent of households were renting 20 years ago compared with 32 per cent currently.

The amount of households with a mortgage has risen, with 30 per cent of people owning their home outright, compared to 40 per cent two decades ago.

Australian Bureau of Statistics Chief Economist Bruce Hockman discusses the findings with John Stanley.

Click PLAY to hear the full interview