New research from Great Southern Bank shows that younger Australians, especially Gen Z, are reimagining homeownership – not just as a place to live, but as a way to generate income and build financial security.
According to the bank’s No Place Like Home ‘After’ report, 58% of Gen Z homeowners are considering using their home as a source of income, compared to 28% of all homeowners.
Among Gen Z homeowners:
24% would like to turn their home into an investment property
19% would like to rent out a room or the property
16% would like to run a business from home
“There’s a proactive mindset among younger Australians,” said Rolf Stromsoe (pictured), chief customer officer at Great Southern Bank. “They’re thinking entrepreneurially about how to make their home work harder for them. Having a home is both a personal milestone and a launchpad to help build wealth or build a side hustle.”
The research also highlights a shift in how families approach financial help for first-home buyers. Many Australians who receive help from parents or loved ones are committed to repaying that support:
44% of those who plan to pay help back say they’ll do so as soon as possible
30% intend to repay the funds with interest
Only 5% of homeowners who received help say they won’t be able to pay it back
“This is a natural evolution in how families are helping each other,” Stromsoe said.
This trend is occurring as parental support for first-home buyers shifts from loans to outright gifts. Mozo’s 2025 Bank of Mum and Dad Report found that 75% of parents now provide financial help with no expectation of repayment, up from just 33% in 2021. The average gift towards a home deposit has also risen to $74,040, reflecting the impact of surging house prices and higher deposit requirements.
“It’s no surprise that many Australians need a helping hand to get into the property market – but what’s striking is how committed they are to paying that support back,” Stromsoe said. “That will be reassuring news for parents who want to help their children buy a home but feel unsure about making a financial gift. In many cases, it's not a handout – it’s a handshake.”
The report also finds that more parents are open to their adult children living at home for longer to help them save for a deposit:
23% of parents say they’d be happy for their kids to live at home forever
Among Baby Boomers, 40% are willing to house their children for life
33% of parents would allow children to stay at home until ages 26-35, up eight percentage points from last year
These findings point to a broader shift in attitudes toward multigenerational living, with families prioritising financial stability and long-term housing goals over traditional timelines for moving out.
Great Southern Bank’s latest No Place Like Home report highlights how Gen Z and their families are adapting to a changing property landscape – using homeownership as a financial tool and embracing new models of support and living.
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