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  • Writer's pictureDemi Lynch

Two Thirds of Young Aussies Believe They Will Never Own A Home - But Are We Really Surprised?!



In unsurprising news, the housing crisis is negatively effecting young people.


And in more unsurprising news, majority of young adults in Australia cannot afford to buy a home (SHOCKING!! I KNOW!!).


Research company Resolve Strategic found that 67 per cent of people aged between 18 and 34 believe they will never own a home in their area.


University of Sydney professor of urban planning Nicole Gurran says owning a home has become much more difficult this past decade.


"Unless you have access to inherited wealth or an astronomically high income, you face hurdles that just didn’t exist even a decade ago," she says, "particularly in the major cities but increasingly in regional areas as well."



In recent years Australians have also seen a dramatic jump in rental prices which has left renters little wiggle room in their savings account for a housing deposit.


Kate Colvin, National spokesperson for Affordable Housing Campaign Everybody’s Home, says it's "callous and unrealistic" for politicians to expect workers on $40,000-$45,000 salaries to save up for a home loan.


She says youth allowance recipients and entry level workers in the hospitality and retail industry are being pushed out of the property market - majority are having to spend half their wages on rent if they live in a capital city.


"Young Australians are caught in a vice of surging rents and declining real wages," says Colvin, "everyone deserves the security of a stable home; this should be a right, not a privilege."


So what happens now to the Australian dream of owning a home?


Will it actually become a reality for young Aussies or just a mythical fairytale?


 

Header Image: Kaleidoscope News

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