12 November 2026 * 3 minute read
Australians support more affordable housing, but concerns about falling property values reveal a clear tension between access to home ownership and protecting the value of the family home.
Westpac Chief Executive, Consumer, Carolyn McCann, said the findings reflect the complexity of Australia’s housing debate.
“Affordability remains a significant challenge for many Australians, and these findings suggest some view lower prices as part of the solution. But there is another side to that equation. For many Australians, their home can be their biggest financial asset, so concern about falling values is understandable,” McCann said.
“It’s important to remember that housing markets move through cycles and buying a home is a long-term commitment. While prices have fallen, our economists expect national property prices to rise by 3 per cent in 2027,” she added.
The latest Westpac Home Ownership Report found:
Four in five Australians surveyed (82%), say home ownership is completely out of reach for the average Australian. A further 65% believe they will never be able to buy their first home without an inheritance.
Survey participants identified several measures beyond house prices alone:
“Housing affordability is about more than house prices. Australians see a range of factors influencing their ability to buy, from the type and location of housing available to the upfront costs of purchasing and their own income,” McCann said.
“For aspiring buyers, understanding your financial position and the options available to you is a practical place to start your home ownership journey. A lender can help you understand what you may be able to afford and what you need to work towards.”
Have a question? Whether online or in person, we’ll support you at every stage of your home-buying journey by making it easy to connect in the way that suits you.