The Federal Government releases an intergenerational report at least once every five years, providing a long-term view of the economic and social trends that will shape Australia’s future.

While the latest report covers everything from productivity and healthcare to demographics and fiscal sustainability, the key messages in relation to housing are of immediate concern.

According to Intergenerational Report 2026 – Australia’s future to 2066, homeownership rates among Australians aged 25 to 34 fell 17 per cent in the four decades from 1981 to 2021. The report also notes that 250,000 fewer young households now own their own home than would have been the case had ownership rates remained at their 1981 levels.

The report also revealed the growth in new housing supply had slowed relative to demand, reversing the trend of the previous 25 years. In fact, Australia is building about half as many homes per housing construction hour worked compared to three decades ago.

For many Western Australians, these findings will come as little surprise given that across Perth and regional centres, housing affordability remains a major challenge, with strong population growth, workforce demands and constrained housing supply placing pressure on both purchase prices and rents.

What is encouraging, however, is that the report acknowledges the critical role housing supply plays in improving affordability and access to homeownership. Without a significant and sustained increase in the number of homes being delivered, it will become increasingly difficult for future generations to achieve homeownership.

The report also serves as an important reminder that government policy decisions should be considered through the lens of housing supply.

While reforms may be well intentioned, they must avoid creating unintended consequences that further constrain the delivery of new homes.

This means maintaining a strong focus on unlocking land, improving planning efficiency, investing in enabling infrastructure and supporting the broad mix of housing options needed by a growing and changing population.

The good news is that WA has demonstrated what can be achieved when government and industry work together toward a common goal. But the scale of the challenge outlined in Intergenerational Report 2026 – Australia’s future to 2066 shows there is still more work to be done in this space.

If we want future generations to enjoy the same opportunities to own or rent a quality home, boosting housing supply must remain one of Australia’s highest priorities.

It is a challenge which extends well beyond the next election cycle and one that demands action today.