More young Australians are giving up on the dream of owning a home, with a new national report revealing that generational inequality is worsening at a pace not seen in decades. Anglicare’s Falling Behind report, released on Tuesday, shows home ownership among 25-34‑year‑olds has plunged to an 80‑year low, driven by tax settings that have long favoured property investment and allowed wealth to accumulate disproportionately among older generations.
Anglicare Australia executive director Kasy Chambers said young people are entering adulthood on unstable ground. She described a generation working hard but unable to secure the stability their parents once took for granted. “The economic foundations underneath them have shifted,” she said, pointing to insecure work, rising living costs and longer years spent studying before entering the workforce.
Chambers said this “perfect storm” has left young Australians struggling to save for a deposit, with average incomes no longer keeping pace with soaring house prices. Anglicare’s report found older Australians remain largely insulated from today’s pressures, having benefited from stable job markets and investment gains taxed more lightly than wages. Their wealth has grown significantly over time, yet their share of income tax has not increased proportionally.
Meanwhile, younger Australians are “absorbing the impact” of lower wages relative to housing costs, leaving them with fewer opportunities to build wealth or achieve long‑term financial security. The Albanese government has introduced new tax changes this year affecting investments including shares, property and business sales, but Anglicare argues deeper structural reform is needed to restore fairness between generations.
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