Apparently 67% of Australians own their own homes [1], which suggests that it’s not just the top 10% driving prices up?
[1] https://www.aihw.gov.au/reports/australias-welfare/home-owne...
[1] https://www.aihw.gov.au/reports/australias-welfare/home-owne...
The 67% ownership is also the figure that stands today as a result of purchases going back many decades during better times. As the report shows, ownership has been reducing successively with each generation even as the dependency on mortgage has been increasing. The ease, if not ability, of owning a home is definitely going down.
This means adult children living with parents are counted in the 67%. Also flatmates and boarders, elderly parents, etc. Obviously children are not home owners as well.
A lot less than 67% of Australians own their home.