Invest
Avo-smashing Millennials sacrifice family for home
The idea of Millennials being naïve, smashed avo-eating people has been dismissed, with new research highlighting how savvy young Australians are sacrificing to get ahead.
Avo-smashing Millennials sacrifice family for home
The idea of Millennials being naïve, smashed avo-eating people has been dismissed, with new research highlighting how savvy young Australians are sacrificing to get ahead.
According to results from Bankwest, Millennials are foregoing starting a family, luxury items, discretionary spending and their independence to get a foot on the property ladder.
Bankwest general manager personal and third-party banking Donna Dalby believes the results paint a different picture of young Australians than we usually hear.
More than a quarter of young Australians said they would put off having children to afford their own home, while one-in-five were willing to give up basic necessities.
And, in a blow to the stereotype, more than half of Millennials surveyed would sacrifice little luxuries, experiences and big-ticket items to get on the property ladder.
More than a quarter (27.8 per cent) of young Australians were even willing to sacrifice their independence to enter the housing market by living with parents or family for longer.
The cohort also defied property price and cost-of-living pressures to be among the most likely to believe in the Great Australian Dream of home ownership and that it was achievable for them.
“Home ownership may be a daunting prospect for some aspiring homeowners, but we know there are options available to those who are willing to make choices or trade-offs,” Ms Dalby concluded.
“Owning your own home is a key moment in life and it’s important we do all we can to make that process as simple and transparent as possible, and help customers achieve their dream.”
In welcome news for younger Australians, data released by the housing supply minister shows the federal government’s First Home Loan Deposit Scheme (FHLDS) is already helping Millennials achieve their home ownership aspirations.
HIA chief executive industry policy Kristin Brookfield noted that data shows 34 per cent of applicants are aged between 25 and 29, while 76 per cent of applicants are aged between 18 and 34.
“Where first home buyers are looking to live is also encouraging. A large number of applicants, including Millennials, are looking to buy outside the major cities of Sydney, Brisbane and Melbourne. This suggests that people are starting to think outside the box (and the capital cities) when they think about buying their first home,” Ms Brookfield said.
“All Australians seek to have secure housing options. Home ownership is an important fundamental of achieving that and increasing housing supply will have a trickle down effect for the economy as a whole."
“HIA is heartened to see the scheme receiving so much interest and so many first home buyers now being able to achieve their home ownership dream.”
RELATED ARTICLES
About the author
About the author
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
Property
Twice the demand: the case study behind Melbourne’s first‑home buyer surge
Melbourne has quietly engineered one of Australia’s most consequential housing turnarounds, with first‑home buyer demand running at roughly double the national pace and four of the top five buyer ...Read more
Property
First‑home buyers now anchor Australia’s mortgage growth — but the risk maths is changing
Great Southern Bank’s revelation that nearly one in three of its new mortgages went to first‑home buyers is not an outlier. It is the leading edge of a broader market realignment powered by government ...Read more
Property
Home guarantee scheme shake-up challenges Australia’s housing market players
From 1 October 2025, the expanded Home Guarantee Scheme (HGS) materially widens what first-home buyers can purchase and where. By sharply lifting price caps and relaxing eligibility settings, the ...Read more
Property
GSB’s first‑home buyer play: turning policy tailwinds into market share
Great Southern Bank’s latest results show that nearly one in three of its new mortgages now go to first‑home buyers—evidence of a fast‑moving market reshaped by government guarantees, easing rates and ...Read more
Property
Why investors are fleeing and renters are scrambling in Australia's housing maze
Australia’s rental market is tightening even as individual landlords sell down. New data points to a multi‑year investor retreat tied to higher holding costs and regulatory uncertainty, while prices ...Read more
Property
Australia's 5% deposit guarantee: Unlocking gains while balancing risks in the market share race
Can a bigger government guarantee fix housing access without fuelling prices? Australia is about to find out. The Albanese government’s expanded 5% deposit pathway aims to help 70,000 buyers, remove ...Read more
Property
Australia's bold move the 5% deposit scheme shaking up the housing market
Can a government guarantee replace lenders mortgage insurance without inflating prices or risk? Canberra’s accelerated 5% deposit scheme is a bold demand-side nudge in a supply‑constrained marketRead more
Property
When rates drop but stress sticks: exploring Australia's mortgage arrears dilemma
Headline numbers suggest arrears ease as rates come down. The reality in Australia is messier: broad measures dipped into mid‑2025, yet severe delinquencies and non‑bank portfolios remain under ...Read more
