Catherine McGrath: Westpac CEO on the new research claiming home ownership rates will fall below 50 percent before 2050 - Heather du Plessis-Allan Drive

Home ownership rates have dropped below 60 percent, and data indicates this figure could get lower.

New research commissioned by Westpac says home ownership figures will fall as low as 50 percent by 2050.

The bank has since pledged to lend $1 billion over the next three years to fund affordable housing.

CEO Catherine McGrath says it's critical to ensure home ownership becomes available to more New Zealanders. 

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