For generations, property ownership in Australia was the ultimate milestone. Finish school, get a job, buy a house, raise a family. It was more than a financial goal — it was part of our national identity.
But today, that dream feels very different. Rapid rises in land prices, construction costs, interest rates and living expenses have made buying a home feel out of reach for many young Australians. The question has shifted from “When will I buy?” to “Will I ever be able to?”
The good news? While the traditional path has changed, opportunities still exist — just not always in the way previous generations experienced them.
Rent vs Buy: Is Ownership Still Worth It?
Renting often gets framed as “dead money”, but that’s an oversimplification. Renting can offer flexibility, lifestyle choice and lower upfront costs. For some, renting while building savings or investing elsewhere can make sense.
Buying, however, still provides long-term benefits:
- Security of tenure
- Potential capital growth
- Forced saving through mortgage repayments
- Stability for families
The challenge today is timing. Buying too early, stretching yourself thin, or purchasing the wrong asset can create stress rather than security. This is where advice becomes critical — understanding when and what to buy matters just as much as buying itself.
Earning More: The FIFO Lifestyle
One pathway many young Australians are considering is increasing income through FIFO (Fly-In, Fly-Out) or remote work, particularly in mining, energy and infrastructure.
Opportunities
- Significantly higher income in a short period
- Faster deposit savings
- Ability to pay down debt quickly
Challenges
- Time away from family and partners
- Mental and physical fatigue
- Income can be cyclical and industry-dependent
FIFO can accelerate your financial goals, but it’s not a permanent solution for everyone. Without a clear plan, higher income can disappear just as quickly as it arrives.
Buying Where You Can Afford, Not Where You Grew Up
For many first-home buyers, purchasing in their ideal suburb is no longer realistic. Instead, some are choosing to buy:
- In regional towns
- In outer suburbs
- In areas they wouldn’t necessarily live in long term
The idea: enter the market first, upgrade later.
Opportunities
- Lower entry prices
- Potential for long-term growth
- Rental income if you don’t live there
Challenges
- Slower capital growth in some areas
- Vacancy risk
- Emotional disconnect from the property
Buying in a “less attractive” area isn’t settling — it’s often a strategic first step.
Buying Together: Family, Friends or Parents
Co-ownership is becoming more common as prices rise. This might mean buying with:
- Parents (often referred to as the “bank of mum and dad”)
- Siblings
- Close friends
Opportunities
- Shared deposit and borrowing power
- Earlier market entry
- Reduced individual financial strain
Challenges
- Complex ownership structures
- Relationship strain if circumstances change
- Exit strategies must be planned from day one
Clear legal agreements and independent advice are essential here. Property can build wealth — or destroy relationships — depending on how it’s structured.
Part Ownership, Rentvesting and Other Alternatives
New strategies are emerging for those locked out of traditional ownership:
- Rentvesting: Rent where you want to live, buy where you can afford
- Shared equity schemes: Government or private partners co-own part of the property
- Apartment or townhouse first: Smaller footprint, lower entry cost
These options aren’t perfect, but they can be stepping stones toward long-term ownership.
Why Advice Matters More Than Ever
Property decisions today are more complex than ever before. It’s no longer just about borrowing as much as the bank will allow.
Quality advice can help you:
- Understand your true borrowing capacity
- Stress-test repayments
- Choose the right structure (individual, joint, trust)
- Balance property with other investments
- Avoid costly mistakes early
The Australian Dream hasn’t disappeared — it’s evolved. For the next generation, success may look different to their parents, but with the right strategy, flexibility and guidance, owning a home is still possible.
The dream is no longer about following a single path — it’s about choosing the right one for you.
If this article has inspired you to think about your unique situation and, more importantly, what you and your family are going through right now, please get in touch with your advice professional.
This information does not consider any person’s objectives, financial situation, or needs. Before making a decision, you should consider whether it is appropriate in light of your particular objectives, financial situation, or needs.