Young Australians are helping drive the nation to its lowest alcohol consumption levels since the early 1960s, according to a new study.

Melbourne researchers have found there has been a steady decline in drinking during the past decade with young Australians drinking less and the aging of heavier drinkers being key factors in helping drive a generational change in the nation's drinking habits.

In an exhaustive study by Australia's Center for Alcohol Policy Research at La Trobe University, researchers examined the drinking habits of 124,440 Australians aged 14 to 79, over an 18-year period.