Westpac finds 82 per cent of Australians believe home ownership is out of reach

Westpac chief executive, consumer, Carolyn McCann, said while many Australians want cheaper homes, there is another side of the equation. Australians want cheaper homes – but new research reveals mortgaged homeowners are terrified of prices actually falling. New Westpac research has revealed mixed attitudes towards falling house prices, with more than two in three (68 per cent) Australians believing falling prices would be good for the country, while almost the same proportion (67 per cent) are concerned property values could fall further. New Westpac research has revealed mixed attitudes towards falling house prices. The latest Westpac Home Ownership Report found Gen Z were the most likely to agree falling house prices would be good for Australia (78 per cent), followed by Millennials (69 per cent), Gen X (67 per cent) and Baby Boomers (58 per cent). That view also extends to homeowners, with almost two thirds (62 per cent) agreeing falling house prices would be good for Australia. However, concern about property values falling is highest among homeowners who hold a mortgage (75 per cent). MORE NEWS: Nitro Circus boss lists Aussie home How new app aims to beat build delays Buyers’...