The annual HILDA report, the largest longitudinal study of its kind in Australia, follows the same 17,000 people each year and tracks changes in housing, employment, income and wellbeing over a quarter century. This year's edition, led by Dr Inga Lass, draws on data collected from 2001 to 2024.
Among young adults who have left the parental home, two-thirds are renting privately, but this group reports higher rates of housing inadequacy and lower satisfaction than those who stay with parents or have entered home ownership. In mainland capital cities, 25.3 per cent of young private renters are in housing stress, up from 17.6 per cent for the equivalent cohort in 2001.
Housing stress among young mortgage holders has remained relatively stable over two decades — ranging from 8.6 per cent in 2001 to 9.9 per cent in 2024 — despite substantial increases in housing costs. The report's authors suggest this indicates that mortgage entry has become increasingly restricted to young adults with higher earnings, substantial savings or access to family wealth.
The study also reveals that half of Australian workers feel over-qualified for their job, and a quarter feel over-skilled. These mismatches are more prevalent among workers under 25, and in occupations such as sales work and labouring, as well as industries such as accommodation and food services.
"With 50 per cent of Australian workers reporting they believe they are over-educated for their role, we're exactly where we were in 2012," Dr Lass said. She noted that the labour market has broadly kept up with rising education levels, with the number of jobs requiring bachelor's or master's degrees growing fastest and roles requiring Year 11 or less declining.
On a more positive note, the survey finds high employment, a significant increase in women holding university degrees, and generally healthy long-term relationships.