Growing share of Gen Z and young Millennials are losing interest in owning home

This unassuming home in Sydney’s northwest recently sold for $2.38m, a mark many Aussies say they will never afford. Younger Aussies are increasingly giving up on the dream of property ownership, with an alarming share of Millennials and Gen Z reporting they don’t think they will ever own a home. And it’s come despite plummeting home prices and the federal government pouring billions into first-home buyer support and federal budget tax reforms introduced in the name of levelling the playing field. Finder polling revealed 38 per cent of 18-39 year olds now hold the view that they will never own – either because it’s become out of reach for them or they’ve lost interest in the idea. It’s a dramatic rise from the 13 per cent of people in this age group who reported the same feelings back in 2019. Those who doubted they will ever own could be broadly split into two camps: 25 per cent of Aussies said they would never own due to prices being too unaffordable and 11 per cent said they weren’t interested. A sense of apathy and despair over home ownership has come despite government investment in housing supply and first-home buyer incentives. MORE: Boomers smashed by new Aus tax, others pa...