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OWNERSHIP OF OTHER RESIDENTIAL PROPERTY
Many Australians own a residential property other than the one they currently reside in. In 2015–16 there were 1.78 million households that owned residential property other than their usual residence. Such properties include those that are being rented out as residential investment properties and those used for other purposes, such as holiday homes.
Most households (72%) who owned other residential property owned a single property. Around one in twenty households (5%) who owned other property owned four or more properties.
Owner occupiers were more likely to own additional residential property, with around 1.39 million owner households owning other residential property. This compares to 342,000 households who own other residential property but are renting their usual residence.
Footnote(s): (a) Equivalised Disposable Household Income. See Explanatory Notes for more information
Source(s): Survey of Income and Housing
Almost four in ten households who owned another residential property, excluding their current dwelling (38%) belonged to the highest quintile of equivalised disposable household income, while just over one in 10 of those households (11%) were in the lowest quintile of equivalised disposable household income.
Considering the value of other residential property, for 81% of households that owned this type of asset, the worth of these was under $1 million, whereas 6% of households who owned other residential property had in excess of $2 million worth of these assets.
For more data regarding ownership of other residential property see data cube 11, available to download from the 'Downloads' tab of this product.
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