Over-60s now control 27 percent of Australia's rental market, data shows

Over-60s now control 27 percent of Australia's rental market, holding 610,000 properties, while under-30s ownership has plummeted since 1999, new tax office data shows. Over-60s property ownership surged 233 percent over two decades while young investors dropped 13 percent, as Sydney prices climbed fourfold to $1.5 million. The government prepares budget reforms to negative gearing and capital gains tax concessions.

Summary by Glance · The Age