A major new study has revealed that young Australians are significantly more anxious about housing affordability than they are about climate change or their future career prospects. The research, conducted by the Australian Institute of Family Studies as part of the long-running Growing Up in Australia project, found that 73% of young people aged 19 to 24 are 'quite a bit' or 'very much' concerned about their ability to buy a home. This finding highlights a profound shift in the priorities of Gen Z, who are navigating early adulthood during a period of significant economic and social pressure.
The Growing Up in Australia study has tracked thousands of participants since 2004, providing a detailed look at how these young adults are transitioning into independent life. While the data shows that these individuals are politically engaged and active in their communities, their trust in traditional political institutions remains low. Instead of relying on formal party politics, many are turning to digital advocacy and community-based action to express their frustrations regarding the national housing crisis.
For many young Australians, the traditional pathway to home ownership—moving out, renting for a short period, and then purchasing a home—has become increasingly difficult. Rising property prices, which have far outpaced wage growth over the last two decades, have forced many to rely on family financial support or remain in the rental market for much longer than previous generations. This has led to a sense of instability, with many young people experiencing disrupted housing pathways, often moving between renting, living with parents, and attempting to save for a deposit.
As the cost of living continues to climb, the dream of home ownership is increasingly viewed as a privilege rather than a standard milestone of adulthood. The data suggests that this anxiety is not merely a financial concern but a core issue affecting the life satisfaction and future outlook of an entire generation. Moving forward, the challenge for policymakers will be to address these deep-seated concerns in a way that resonates with a generation that feels increasingly disconnected from the current political and economic status quo.