Housing and inequality in Australia

Morris, A

Housing and inequality in Australia

Morris, A

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Publisher:: Cambridge University Press
Publication Type:: Journal Article
Citation:: The Economic and Labour Relations Review, 2023, pp. 1-18
Issue Date:: 2023-02-14

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Field	Value	Language
dc.contributor.author	Morris, A https://orcid.org/0000-0001-7652-5370
dc.date.accessioned	2023-02-22T01:36:14Z
dc.date.available	2023-01-09
dc.date.available	2023-02-22T01:36:14Z
dc.date.issued	2023-02-14
dc.identifier.citation	The Economic and Labour Relations Review, 2023, pp. 1-18
dc.identifier.issn	1035-3046
dc.identifier.issn	1838-2673
dc.identifier.uri	http://hdl.handle.net/10453/166300
dc.description.abstract	In Australia and many other advanced economies, housing is playing a central role in accentuating and perpetuating inequality. This paper, drawing on primary and secondary data, discusses the various ways in which housing tenure in Australia contributes to wealth and income inequality. It argues that a neoliberal housing policy framework and accompanying financialisation of housing have facilitated a dramatic increase in house prices, the neglect of social housing, and a deepening wealth and income divide based on housing tenure. With respect to wealth, the key divide is between outright homeowners versus low-income private renters and low-income households in mortgage stress. The wealth of outright homeowners has grown substantially in recent decades and many have been able to acquire a holiday home and/or investment properties, thereby intensifying the wealth divide. Approximately a third of Australian households are now locked out of home ownership for an extended period or even lifelong. Housing tenure status also has an impact on the disposable income of households. For example, low-income outright homeowners are invariably in a far better position with respect to disposable income than their counterparts who have large mortgages or are private renters.
dc.language	en
dc.publisher	Cambridge University Press
dc.relation.ispartof	The Economic and Labour Relations Review
dc.relation.isbasedon	10.1017/elr.2022.6
dc.rights	info:eu-repo/semantics/openAccess
dc.rights	This article has been published in a revised form in The Economic and Labour Relations Review http://doi.org/ 10.1017/elr.2022.6. This version is free to view and download for private research and study only. Not for re-distribution or re-use. © copyright holder
dc.subject	1402 Applied Economics, 1503 Business and Management, 1605 Policy and Administration
dc.title	Housing and inequality in Australia
dc.type	Journal Article
utslib.location.activity	Australia
utslib.for	1402 Applied Economics
utslib.for	1503 Business and Management
utslib.for	1605 Policy and Administration
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (Research)
pubs.organisational-group	/University of Technology Sydney/DVC (Research)/lnstitute for Public Policy and Governance
pubs.organisational-group	/University of Technology Sydney/Strength - IPPG - Institute for Public Policy and Governance
utslib.copyright.status	open_access	*
pubs.consider-herdc	true
dc.date.updated	2023-02-22T01:36:13Z
pubs.publication-status	Published

Abstract:

In Australia and many other advanced economies, housing is playing a central role in accentuating and perpetuating inequality. This paper, drawing on primary and secondary data, discusses the various ways in which housing tenure in Australia contributes to wealth and income inequality. It argues that a neoliberal housing policy framework and accompanying financialisation of housing have facilitated a dramatic increase in house prices, the neglect of social housing, and a deepening wealth and income divide based on housing tenure. With respect to wealth, the key divide is between outright homeowners versus low-income private renters and low-income households in mortgage stress. The wealth of outright homeowners has grown substantially in recent decades and many have been able to acquire a holiday home and/or investment properties, thereby intensifying the wealth divide. Approximately a third of Australian households are now locked out of home ownership for an extended period or even lifelong. Housing tenure status also has an impact on the disposable income of households. For example, low-income outright homeowners are invariably in a far better position with respect to disposable income than their counterparts who have large mortgages or are private renters.

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http://hdl.handle.net/10453/166300