Home News Australians prefer to rent than to buy homes, says survey

Australians prefer to rent than to buy homes, says survey

Font size :
More Australians are avoiding mortgages these days, instead opting to rent rather than buy a property, the latest data from comparison website finder.com.au showed.

The website’s Home Loan Insights Survey said 32% choose to rent, a massive jump from the 10% result from last year.

A total of 1,000 respondents were involved in the study and 14% admitted that it’s easier to live with parents. This figure also rose from 10% in 2013.

"Despite the cash rate pause for the 15th consecutive board meeting, it has done little to renew first home buyer activity,” said Michelle Hutchison of finder.com.au.

Hutchison added first home buyers are not in a hurry to get into the property market, as fewer Australians plan to “save a smaller deposit to get onto the property ladder sooner”.

"Last year, about two in three (62%) were planning to save a smaller deposit to buy a home sooner but now, 41% would buy a property with a smaller deposit,” she said.

"Saving enough for a deposit is still the biggest concern for prospective homebuyers, with about two in five (38%) finding it difficult to save. Although this has dropped from the survey results last year, where 51% of respondents couldn't save enough for a deposit.”

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

Young Sydneysiders are less keen on homeownership Young Sydneysiders are less keen on homeownership

Many would rather ‘rentvest’ than be tied down to a costly owner-occupier mortgage, according to new studies Read more

New social housing aims to transform Ivanhoe Estate New social housing aims to transform Ivanhoe Estate The sprawling redevelopment aims to boost the supply of affordable housing in Sydney ... Read more

A new suburb will be built in west Melbourne A new suburb will be built in west Melbourne Mount Atkinson will become home to more than 22,000 people over the next 15 years ... Read more

Surging house prices threaten liveability in Melbourne Surging house prices threaten liveability in Melbourne Analysts warn the city could become just as unaffordable as Sydney, if property trends continue ... Read more

More mortgage news and articles

Sponsored Links

Monday, Aug 21, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords