Australia’s housing crisis has reached the point where almost one in two Australians no longer believe they’ll ever own a home – a shift mortgage brokers are already seeing in enquiries and pre‑approvals.
A new national survey by insurer Youi found 46% of respondents don’t think they will ever be able to buy a home, while 42% say their financial situation has worsened over the past two years. A further 11% don’t believe ownership will be possible within the next decade, and only 5% feel confident they could purchase a property this year, The Courier‑Mail reported.
According to PropTrack’s latest housing affordability report, a typical Australian household can now afford just 15% of homes sold nationally, down from 43% four years ago when mortgage rates were at historic lows. And while house price growth is expected to cool in 2026, affordability is still being squeezed by higher rates, stricter serviceability tests, and rising living costs.
Managing day‑to‑day expenses was the top financial concern in the Youi survey (61%), followed by housing costs (39%), and savings levels (36%). Insurance (16%) and gym memberships (17%) were among the least likely areas to be cut, with most households targeting discretionary spending first.
Economic futurist and behavioural economist Evan Lucas said financial pressure is changing how Australians think about money and wellbeing.
“Households are under strain, but they’re becoming more deliberate and vigilant with their money to protect what matters most,” Lucas said. “The key to staying on top of your money is to know where it’s going – turn your reviews of fixed costs like phone, energy, and internet, into a regular habit. Exercising discipline here can help identify potential areas of savings.”
Higher interest rates are back, adding to the squeeze from rising living costs and tighter lending rules. For would‑be buyers, that means smaller bank budgets and a greater need to stress‑test how much they can really afford before stepping into the market.
Youi chief customer officer Anthony Antonucci said, “Aussies are under real pressure, but we’re seeing a shift from reacting to costs to protecting what matters most”.
Antonucci warned that “many could be missing savings simply by not shopping around or comparing their options”.
Read The Courier news on realestate.com.au. To see the full Youi report, click here.
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