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

Rising rents are forcing over half of young Australians to stay in family homes.

Clare O'Neil, Labor minister for Home Affairs and Minister for Cyber Security, attends the jobs and skills summit at Parliament House in Canberra, Australia on Sept. 1, 2022. Martin Ollman/Getty Images

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.