Begging, Borrowing, and Getting Creative: How Young Aussies Are Still Chasing the Property Dream

With house prices climbing and rent hikes showing no signs of slowing, young Australians are pulling out all the stops to get their foot on the property ladder. For many, it’s no longer just about saving hard—it’s about leaning on family, rethinking what “home” looks like, and getting a bit inventive.

A new study by LJ Hooker has revealed that a whopping 82% of parents are willing to help their children buy a home, whether that’s with a cash boost, acting as a guarantor, or simply letting them live rent-free while they save. In a housing market that’s becoming harder to crack, this kind of support is making all the difference.

From Rent Hikes to Mortgage Stress: One Couple’s Story

Tara and Matt Costello, a couple from Port Stephens in regional New South Wales, know this struggle all too well. Facing a near 50% rent increase, they had two choices: find a way to buy, or risk sinking further into a rental trap with nothing left to save.

So they went all in.

“We sold loads on Facebook Marketplace, rented out our caravan, cashed in my husband’s RDOs and annual leave,” said Tara. “We cut back on everything we could. But even after all that, we were still short at settlement.”

In the end, they needed a small personal loan and a helping hand from a friend to make the final stretch. But the most crucial boost came from Tara’s mother-in-law, who stepped in to help with the deposit.

“She told us she’d rather support us now than see us drain our super. Without her, we just couldn’t have done it.”

The New Norm for Young Buyers

The Costellos aren’t alone. More and more young Aussies are doing whatever it takes to buy a home. From asking family for help to embracing alternative living arrangements, it's clear the traditional path to ownership is changing.

“We've got friends who had to move back in with their parents to save,” said Tara. “Others had to dip into their super. Everyone’s just doing what they can.”

And while government grants and stamp duty concessions help, for many, they’re not enough to cover the growing gap between income and housing costs.

Rethinking the Aussie Dream

As house prices in major cities soar, younger generations are becoming more flexible about what home ownership looks like. According to LJ Hooker’s research, nearly half of Gen Z would consider buying a home with a friend or sibling. Apartment living is also gaining traction, with 61% of Gen Z buyers happy to consider flats over houses.

“Property ownership is still linked to financial security in Australia,” said LJ Hooker’s Head of Research, Mathew Tiller. “But the way younger people are getting there is changing. They’re looking at co-ownership, flats, and other creative routes.”

Parents Becoming Key Players

With deposits being the biggest hurdle, parents are stepping in more than ever. Whether it’s offering cash, sharing space, or signing on as a guarantor, their role in first-home buying has grown significantly.

“There are loads of ways to support,” said Tiller. “And most parents just want their kids to have the same financial stability that owning a home gave them.”

Final Thoughts

It’s never been harder for young people to buy property in Australia—but it’s also never been more inventive. Whether it’s teaming up with mates, downsizing expectations, or leaning on family, Gen Z and Millennials are rewriting the rulebook on how to buy a home.