Invest
Will the children ever leave?
As the property market shows signs of recovery, millennials are now losing hope that they’ll be able to fly the coop before their 30th birthday, new research has revealed.
Will the children ever leave?
As the property market shows signs of recovery, millennials are now losing hope that they’ll be able to fly the coop before their 30th birthday, new research has revealed.

According to CoreLogic’s Perceptions of Housing Affordability Report 2019, 34 per cent of Australians think they will remain at home until they are 30, up by 14 per cent from just two years ago.
CoreLogic International’s CEO, Lisa Claes, expressed concern that the younger generation has been locked out of the housing market.
“The report proves that the ‘cubby house’ syndrome – where children are prolonging their home stay with parents – is intensifying,” she commented.
“Our youngest generation is effectively being locked out of the market and increasingly dependent on parents.”

‘Bank of mum and dad’
Not only is poor affordably meaning the kids are sticking around for longer, they are increasingly turning to the family for help in purchasing their first property.
The research noted that a quarter of millennials say family assistance to raise a deposit would be a great help when buying a first home, up by 4 per cent from 2017.
CoreLogic’s head of research, Tim Lawless, highlighted how “the ‘bank of mum and dad’ – where young people rely on their parents to support their entry into the housing market, either by helping with a deposit or assisting with loan repayments – is becoming one of the last sources of hope for millennials”.
Despite the challenges, 86 per cent of millennials still rate home ownership as important.
It’s the highest rating level for the importance of home ownership aspirations across all demographics, according to the report.
“Millennials haven’t given up on the great Australian dream – they want to own homes,” Mr Lawless commented.
“In fact, by being denied it, they want it even more, but they are losing hope that they will ever be able to realise that dream.”
Struggling to get a loan
Not only are Australians struggling to raise a deposit, they are finding it harder to get approval from the banks, CoreLogic has also found.
“The severe tightening of credit availability following stronger prudential regulation and outcomes related to the banking royal commission is hurting Australians, who are struggling to get a loan,” Mr Lawless said.
“Lenders also have a greater focus on evaluating and assessing individual borrower’s expenses.”
CoreLogic highlighted the impact as particularly evident for low-income households, with the report revealing that 31 per cent of households with an income of less than $50,000 wouldn’t be able to raise more than a 5 per cent deposit.
A further 41 per cent wouldn’t be able to raise more than 10 per cent, CoreLogic also found.
About the author

About the author


Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more

Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more