Housing is a key component of individual and family. In addition to being a place where family and friends can gather, housing is important for a sense of security and
. One
aspect of security is the wealth in the homes of owner occupiers.
The wealth of households
as the wealth (or equity) in the homes of owner occupiers increases through paying off outstanding housing loans, or as property values rise. In 2003-04, the primary residence was, on average, the most valuable asset of owner-occupier households, with the net value of owned homes
an average of 55% of the net worth of those households.