SYDNEY, May 28 (Xinhua) -- Australia's housing investors have become older and wealthier over the past two decades, according to a new report from the Reserve Bank of Australia (RBA), highlighting structural shifts in the country's property market.
The RBA analysis released Thursday showed the share of investors aged over 60 rose from 12 percent in 1999/2000 to 28 percent in 2022/23, while participation among younger groups declined sharply.
Investors under 30 fell from 9 percent to 3 percent, and those aged 30-39 dropped from 26 percent to 18 percent, the report said, adding the median investor age increased from 45 to 51.
The report also found housing investment is increasingly concentrated among higher-income households, driven by rising property prices, greater borrowing capacity, and tax concessions such as negative gearing and capital gains tax discounts.
More investors hold multiple properties, it said, adding that the share owning more than one property rose to about 30 percent, and these investors now control about half of all investment properties.
The findings come as the federal government introduced legislation to curb tax concessions on property investment, aiming to improve housing affordability. The opposition has pledged to repeal the measures, arguing they could "discourage the investment Australia needs to grow."
Australia has about 2.3 million housing investors, with investment properties accounting for around one-fifth of the dwelling stock, according to the report. ■
