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Home ownership is an important economic indicator of wealth and saving, and ispositively related to employment and income indicators. Home ownership providesa secure asset base that can contribute to financial stability and against which peoplecan borrow.During consultations for this Report, many Indigenous people said that homeownership was an important part of improving Indigenous wellbeing. Otherssuggested that not all Indigenous people want to own their own homes, and thatthose in more remote areas and living more traditional lifestyles may prefer a morecommunal form of ownership. Information on communally owned land is reportedin the section on ‘Indigenous owned and controlled land’.Indigenous people aged 18 years and over living in homes someone in theirhousehold owned or was purchasing100801994 2002 2004-05Per cent6040200NSW Vic Qld WA SA Tas ACT NT AustraliaSource: ABS 1994 NATSIS, 2002 NATSISS and 2004-05 NATSIHS (unpublished); tables 3A.7.1 and 3A.7.2.Box 1.11Things that work• An Indigenous home ownership program, now known as IBA Homes, wasestablished in 1975. It has helped more than 12 000 Indigenous families buy theirown homes (box 3.7.2).• In South Australia, HomeStart Finance introduced Nunga Home Loans in March2004. Almost 300 applicants have purchased homes with a Nunga Loan (box 3.7.2).• The Tasmanian Government provides funding to the Tasmanian Aboriginal Centreto assist Aboriginal and Torres Strait Islander first home buyers with the payment ofstamp duties (box 3.7.2).18 OVERCOMINGINDIGENOUSDISADVANTAGE 2007