For many young Australians, owning a home can feel more like a long-term dream than a realistic goal. Rising living costs, rapid property price growth and slower wage increases have made it increasingly difficult for first-home buyers to break into the market.
Research released earlier this year by Deloitte Access Economics shows just how tough conditions have become. Between 2013 and 2023, the average home price jumped 67% — from $548,000 to $915,000 — while the average weekly income for 21 to 34-year-olds rose only 20%.
These financial pressures are also influencing major life decisions. In 1981, about a third of 20 to 24-year-olds lived with their parents. By 2021, that figure had surged to 63.8%. Today, 40% of Australians aged 25 to 34 rely on financial help from family to buy their first home.
With prices rising nationwide, affordability remains one of the biggest barriers to entering the market. But if you’re hoping to buy your first property, it’s important to remember that with the right approach, a clear plan and the right support, home ownership is still achievable.
Here are some of the ways young Australians are getting into their first home sooner.
Help to Buy is a new shared-equity program aimed at making home ownership more accessible. The Australian Government may contribute up to 30% of the purchase price for an existing home, or up to 40% for a new build, allowing buyers to enter the market with only a 2% deposit.
Applications opened on 5 December 2025 and the program offers 10,000 places each year. Income caps apply: up to $100,000 for individuals, or $160,000 for single parents and joint applicants.
This scheme allows eligible first-home buyers to purchase a property with a 5% deposit and no Lenders’ Mortgage Insurance (LMI). While there are property price caps, there are no income limits or annual place restrictions. Formerly known as the Home Guarantee Scheme, it has already supported more than 248,000 Australians since 2020.
This initiative lets you save for your home deposit through your superannuation. By making voluntary contributions, you can benefit from the lower tax rate inside super and potentially grow your savings faster. When it’s time to buy, you can apply to withdraw your contributions plus associated earnings to use as your deposit.
Each option carries its own considerations, so it’s essential to seek professional advice and ensure any agreements are clearly documented.
Buying your first home can feel daunting, but you don’t have to figure it all out on your own. If you’d like to explore your borrowing options and build a clear path forward, we’re here to support you.
Reach out anytime — we’re ready to help you take the next step toward home ownership with confidence.
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