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Approximately 42% of Australians aged 18 to 29 still live with their parents, yet 79% believe they will move into their own home one day, according to data from property co-ownership platform Kohab.
However, while they still dream of home ownership more than half of young Australians have less than $5,000 in the bank. In fact, 28% are buried in more than $5,000-worth of debt despite 46% having full-time jobs.
To help young Australians achieve their home-ownership dream, Kohab and property developer Dyldam recently partnered to enable aspiring home owners to purchase just half a property. The development, Opera Merrylands Precinct, is located in the heart of western Sydney.
The partnership will allow buyers to receive a $10,000 discount on apartment prices, which also aims to “provide maximum affordability for investors and first-time home buyers.”
Kohab property co-ownership and CEO/co-founder David Dawson said, “Buying a property with someone else increases your chance of being approved even on just a portion of the loan.”
