For many, the “Great Australian Dream” of owning a home has never felt further out of reach. Rising property values have convincingly outpaced income growth over recent decades, creating an affordability crisis.
That doesn’t necessarily mean all Australians have given up on dreaming. A recent survey by Mortgage Choice suggests even among members of Gen Z (born from roughly 1996 to 2012), many remain staunch in their desire to buy their own home.
Saving the deposit required for a loan – typically 10% to 20% of a property’s purchase price – has always been one of the biggest hurdles to home ownership.
