Australians are worried that future generations will not be able to enter the housing market, and most of those who don't yet own a home are worried they never will.
Most Australians are worried that future generations will not be able to buy a house with 88% very or somewhat concerned.
More than two-thirds of non-home owning Australians are concerned that they will never be able to afford a house within their lifetime.
Nearly a quarter, 22%, of those who haven’t yet purchased a home believe they will never afford one.
The majority of Australians (85%) believe that house prices will increase over the next five years.
Very few Australians are not concerned about future generations being able to purchase their own home. Nine per cent are non very concerned and just under four per cent are not concerned. The overwhelming majority of people are worried about home ownership among future generations with more than half (53 per cent) very concerned and another third ( 35 per cent) somewhat concerned.
While fewer of those who haven't bought their own home are not concerned about the prospect of never doing so, still a majority is concerned they won't ever buy a home.
More than a third ( 36 per cent) are very concerned and just under a third (31.8 per cent) are somewhat concerned. Similar numbers are either not very concerned about never buying their own home (14.3 per cent) or not at all concerned about it (14 per cent).
Almost all of those who have already bought their home and those who haven’t agree that over the next five years, it’s going to cost more to do so. A strong majority (84.5 per cent) think prices will rise either significantly or a little.
Most of those think the price rises will be consequential (44.6 per cent) with the remainder (39.9 per cent) believing prices will increase a little.
Just over five per cent are optimists who think prices will decrease a little (3.7 per cent) or a lot (1.7 per cent).
Cost is by far the biggest factor in the decision of those who don't own their own home to be in the housing market. Nearly 40 per cent didn’t believe they would be able to afford their own place at the time they were surveyed. Nearly a quarter (22.4 per cent) didn't think they would ever be able to afford to buy.
All other reasons for not entering the housing market rated under ten per cent. Not feeling the need to buy their own home was at 7.4 per cent, currently saving for a deposit at 6.7 per cent, and not being able to get a loan at 4.3 per cent.