Homeownership Effect on Retirement Adequacy and Government Transfers in Australia

Whilst the concept of an asset-based welfare system developed formally in the 1950s there is evidence in Australia that the philosophy developed well before then and has continued through advantages for those able to acquire a home over those that cannot in the retirement system. The net cost to government of the retirement system has been reduced below that which would have applied had the own home asset-based welfare system not been introduced. There are however implications for retirement adequacy for future retirees and costs to government in Australia if home ownership rates continue their recent decline