There’s nothing more Australian than being a homeowner. Or rather, wanting to be a homeowner. Buying property is literally codified into the Great Australian Dream. The message is clear: work hard, save, sacrifice and it can all be yours. But while the sentiment has remained fixed for generations, the circumstances surrounding it have not.
In 2022, the Australian Bureau of Statistics reported: “The likelihood of owning a home when aged 25-39 years decreased for each successive generation.” Which means for many younger people, the Australian dream looks more like a fantasy. Still, despite the odds, by 2021 54% of millennials had managed to enter the property market.
