We have recently been told that young people are priced out of the market unless they can get help from a generous parent to assist with the deposit. We are also led to believe that the younger generation want to “party” and leave serious issues like buying a home until they have enjoyed life.
However, a recent study commissioned by comparethemarket.com.au has found that young people consider buying a property to be the third most important “life factor” after being healthy and the wellbeing of their family. Luxuries such as holidays and new cars are taking a backseat.
We have noticed in our area that most of the young people we speak to are desperately saving for their own home and are hoping to be able to renovate and build wealth.