37% of Young Australians don’t think they’ll ever own a home.

In a poll commissioned by Buy Melbourne Apartments, we found that 37.2% of a random selection of 1000 Young Australians polled believe that they will not be able to acquire and afford a home loan by age 35.

The polled Australians were 18 to 25 at the time of polling, and were provided the option to comment.

With record house prices in Sydney and Melbourne reached in 2017, it’s no shock that Young Australians are fearful of their prospects in the property market — even with a slight slump in recent months.

Experts say that Young Australians are more reliant on the “bank of mum and dad” than ever, with a spokesman from the Grattan Institute telling News.com.au last year that he believes that without parents assistance, young people will continue to struggle to get into the housing market.

With Home Loan and Bank requirements more stringent than ever, and ever stricter regulations, the days of a “no deposit” home-loans and large from the early 2000’s are over. Which is having a huge impact on the prospects of Young People, who are just not getting the same flexibility that was afforded to their parents.

The Young people surveyed also expressed that they would be lowering expectations in their house quality and size, and looking further afield from population centres to make their home ownership dream a reality.

About Buy Melbourne Apartments.
Buy Melbourne Apartments provides assistance to Victorians and those wishing to move to Melbourne on owning property through the Digital Platform, BuyMelbourneApartments.com.au.

Keep up to date

get updates on properties, news and more across Melbourne

More To Explore

Lifestyle

Beef Rib Taco Recipe

Inspired by the Kansas City style of barbecuing and his love of flavors from the comfort foods of the southern United States, Lance closed his restaurant Rusk to embark on a new direction. One fueled by apple, oak and cherry wood. Many thought he had gone completely mad, even his wife. His love of BBQ

Insider Tips

Pros and Cons of investing in apartments

So you want to invest in real estate? Congratulations. It’s a big step and an exciting one. Real Estate has made many Australians wealthy and you could be the next real estate millionaire. With this post, we wanted to briefly touch upon the relative benefits of investing in apartments whilst also being realistic and looking

Insider Tips

Pets & Apartments: 6 Tips to Make It Work

Pets are an important part of the family. They can become an incredibly fulfilling part of your life. But having a pet when living in an apartment presents its own set of challenges. With this article, I want to share with you 6 tips that can help make apartment living with Pets work.  Speak with

Lifestyle

Simple ways of making your apartment feel larger

Living in apartments for any amount of time can get you feeling cooped up, hemmed in, and craving the outdoors. Humans and nature are inseparable, no matter how much we’ve evolved. The earth, sky, sunshine, greenery, and air calm and refresh us. One of the most straightforward solutions if you can’t go out to nature

Looking for a property?

Search across Melbourne with Buy Melbourne Apartments

Sign in to see your favourite properties

Save your favourite properties and access them anytime. Your shortlisted properties will appear on this page.