Invest
Home-owning hopefuls mostly holed up with mum and dad
There are commonly held expectations among 18 to 24-year-olds that they’ll be able to afford property within 10 years, despite being priced out of home ownership already and unable to afford independent rent, a report has shown.

Home-owning hopefuls mostly holed up with mum and dad
There are commonly held expectations among 18 to 24-year-olds that they’ll be able to afford property within 10 years, despite being priced out of home ownership already and unable to afford independent rent, a report has shown.

According to new research from the Australian Housing and Urban Research Institute (AHURI), most young Australians are putting longer-term housing aspirations on hold to meet other life goals such as completing education or gaining secure employment.
The research, using statistics from 2015–16, found that only 17 per cent of young adults aged 18–24 were living independently, while 66 per cent reported that they were still living with their parents.
Additionally, one third of “early adults” aged 25–34 were reported as still living within the family home (whether they had never left or had moved back in) or lived in shared housing.
The Young Australians and the housing aspirations gap research, from Swinburne University and Curtin University, has examined the short and longer-term housing aspirations of young Australians and the gap that exists between their actual housing arrangements and such goals.
Commenting on the report’s findings, lead author Dr Sharon Parkinson of Swinburne University said that “as house prices and rents have risen ahead of incomes, it is taking longer for young adults to create their own independent and secure households, and for some, it is not attainable in the foreseeable future”.
“This has led many to staying or returning to the family home, or taking up informal living arrangements such as living in group households,” she continued.
She also found high levels of “blind optimism” for home ownership, despite the existence of upward property price trends outstripping income levels.
In the “emerging adult” age bracket (18–24), 32 per cent of young people thought that purchasing a property of their own would be attainable in a five-year period.
An additional 36 per cent thought it would be possible in a five- to 10-year period.
By early adulthood (25–34), the report noted “a sharp divide in optimism influenced by education and income levels”.
Nearly two-thirds (61 per cent) with a tertiary education and a higher income indicated they would be in a position to buy a property within five years, compared to just over a third (36 per cent) for those with an education to Year 12 or below.
Less than a quarter, or 23 per cent, of those with an education to Year 11 or below thought owning a property would be attainable in the time frame.
About the author

About the author


Property
RBA’s 30% property growth forecast to materialise in 75% of regions
Experts believe that RBA’s forecasted 30 per cent growth in property prices over the next three years will materialise in 75 per cent of Aussie regions. ...Read more

Property
HomeBuilder applications soar as first-timers enter the market in record numbers
Record numbers of first home buyers are coming into the market assisted by the government’s HomeBuilder stimulus, which is expected to help spur $50 billion in economic activity. ...Read more

Property
Dual Occupancy Homes – Why They Are A Smart Investment In The Current Market
Promoted by Metricon ...Read more

Property
4 factors affecting property market trends in 2021
Following a tough 2020, property investment activity is expected to rebound strong, expanding by 50 per cent in the second half of 2021. ...Read more

Property
House prices tipped to surge 30% on the back of cheap money
According to new documents released from the Reserve Bank of Australia, persistently low interest rates could push up property prices by as much as 30 per cent. ...Read more

Property
Double-digit price growth to stick around as ‘property boom’ arrives
According to leading indicators, Australia’s property boom officially began in November, following several slow months on the back of the COVID crisis, with double-digit price growth already logged ...Read more

Property
How to turn your ‘costly’ lifestyle investment into a money-making asset
Emotionally driven holiday home buyers are being advised to seek maximum rental income and depreciation benefits to make their investments viable. ...Read more

Property
Dutch e-commerce giant VidaXL ramping up Australian operations
Netherlands-based online retailer VidaXL is ramping up its operations in Australia, by launching the build of a brand new 81,000 sq m national distribution centre in Melbourne. ...Read more

Property
RBA’s 30% property growth forecast to materialise in 75% of regions
Experts believe that RBA’s forecasted 30 per cent growth in property prices over the next three years will materialise in 75 per cent of Aussie regions. ...Read more

Property
HomeBuilder applications soar as first-timers enter the market in record numbers
Record numbers of first home buyers are coming into the market assisted by the government’s HomeBuilder stimulus, which is expected to help spur $50 billion in economic activity. ...Read more

Property
Dual Occupancy Homes – Why They Are A Smart Investment In The Current Market
Promoted by Metricon ...Read more

Property
4 factors affecting property market trends in 2021
Following a tough 2020, property investment activity is expected to rebound strong, expanding by 50 per cent in the second half of 2021. ...Read more

Property
House prices tipped to surge 30% on the back of cheap money
According to new documents released from the Reserve Bank of Australia, persistently low interest rates could push up property prices by as much as 30 per cent. ...Read more

Property
Double-digit price growth to stick around as ‘property boom’ arrives
According to leading indicators, Australia’s property boom officially began in November, following several slow months on the back of the COVID crisis, with double-digit price growth already logged ...Read more

Property
How to turn your ‘costly’ lifestyle investment into a money-making asset
Emotionally driven holiday home buyers are being advised to seek maximum rental income and depreciation benefits to make their investments viable. ...Read more

Property
Dutch e-commerce giant VidaXL ramping up Australian operations
Netherlands-based online retailer VidaXL is ramping up its operations in Australia, by launching the build of a brand new 81,000 sq m national distribution centre in Melbourne. ...Read more