The pressure on renters has intensified in 2026, directly undercutting their ability to save toward a deposit. Even renters who pay reliably get no credit benefit for it. Standard credit files typically capture missed payments or debt but not consistent, on-time rent — leaving many with "thin" credit files and no formal way to have their track record counted when applying for a home loan.
That gap is compounded by mounting financial pressure. National median rents hit a record $670 a week in June — up 6.4% year-on-year. FBAA chief executive Leo Gagic said the rise means "every additional dollar spent on rent is a dollar that cannot go towards buying a home."
Equifax Australia has partnered with consumer readiness platform Occubuy to close that credit-recognition gap.
Occubuy is among the first partners using Equifax's newly developed Open Score, which draws on Consumer Data Right transaction data — shared with consumer consent and built on Mastercard's open finance infrastructure — to assess overall financial health rather than relying solely on traditional credit history.
Melanie Cochrane (pictured), Equifax A/NZ CEO and group managing director, said the initiative is intended to solve this directly.
"For millions of Australians, paying rent on time is one of the largest financial commitments they make each month. Yet under traditional credit assessment models, that financial reliability is invisible when applying for a mortgage," Cochrane said.
She added that the partnership is intended to benefit both sides of the lending relationship.
"Partnering with Occubuy puts this insight directly into the hands of renters — helping to create a fairer, more inclusive path to homeownership while giving lenders the confidence to support deserving, credit-ready buyers," Cochrane said.
Through Occubuy's app, members earn redeemable points for steady financial behaviour such as timely rent and regular saving, which can be applied toward a first home purchase. The platform already supports more than 20,000 members and works across an ecosystem of over 30 housing and finance partners.
Amy Shi-Nash, Occubuy co-founder and CEO, framed the initiative as reshaping how the path to ownership is understood.
"Buying a home is not a one-off approval; it is a journey that starts years before the transaction," Shi-Nash said. "We want to help our members see that reaching their goal is a real possibility."
Equifax and Occubuy are now inviting lenders, mortgage brokers, insurers, and proptech platforms to join the pilot, offering early access to a pool of applicants backed by verified financial-behaviour data.
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