Nearly Half of Young Australians Doubt Home Ownership Dreams Amid Housing Crisis: Report

Less than half of young Australians believe they will be able to purchase a property for themselves, according to the 2024 Australian Youth Barometer report released by Monash University on July 31. The findings highlight a significant hopelessness among young people regarding home ownership. “This lack of optimism was also reflected by interviewees, who believed that purchasing property would become increasingly difficult in the future,” the report states. One interviewee shared, “I hope I get enough money to even think about buying a house one day because houses are just so expensive, and even the extra costs. I don’t really have an idea of a timeline in my mind because it’s just depressing; prices are just going up.”...