Soaring home prices are now so far outstripping wage growth that a single person in Brisbane needs at least 28 years to afford a house on their own, according to stunning new data.
The escalating national crisis is worst in Queensland, where the time needed to save for a 20 per cent house deposit has surged by up to six years in just 12 months — a jump exceeding any other capital city and up to three times the national average, depending on salary.
Financial comparison website Finder has found even the best careers in Australia will typically mean an individual now needs nearly three decades to save for a standard house deposit, or a minimum of 18 years for a unit.
A single renter in Brisbane now needs at least 28 years to afford a house on their own in Queensland, depending on their career – 18 years for a unit.
Engineering, dentistry and computing and information systems were the top three jobs for affording a house in 2025, while those in creative arts would need a whopping 47 years to afford that same deposit.
Finder’s head of consumer research Graham Cooke said he found the statistics “shocking”, and that prices were often climbing faster than wages could increase.
“People think [interest] rates are the be all and end all and we hear so much about prices,” he said, “but what’s less discussed is the deposit.”
“People don’t realise just how long it now takes to save a deposit to get on the bottom rung of the property ladder. That bottom rung is just getting higher and higher.”
Finder’s head of consumer research Graham Cooke said lower interest rates wouldn’t help those who didn’t have the means of saving for a deposit.
Finder’s analysis simulated the expenses of an average Aussie school leaver saving 22 per cent of their disposable income, while living out of home and renting in shared accommodation.
The study factored in university degrees, trade apprenticeships and median graduate incomes, along with annual wage growth of 3 per cent after the first five years.
On average, Brisbane homebuyers buying on their own would need to save for 35 years to get into the housing market, and 21 years to afford a unit.
Finder’s research found Brisbane sat in the typical “affordability range” for the country. By comparison, house prices in Sydney are so high that the model stopped measuring after 52 years.
While creative arts workers would need the most time to afford a house, renters working in communications or as a sign-writer, painter or glazer would also need more than 40 years to afford a typical house deposit.
A single home hunter would need to work in a field like dentistry to afford a deposit the fastest – but it would still take nearly 20 years for a unit.
If a single renter wants to afford a home the fastest, they would need to work for 18 years in IT, engineering, dentistry or as a roof tiler – at which point they could afford a deposit for a Brisbane unit.
Medicine is the only other professional field where a single Brisbane worker could afford a home in less than 20 years.
The majority of homeowners are still purchasing with a partner, but Mr Cooke said the statistics were “scary” for those who didn’t have that option.
“In our more expensive cities it will be difficult for nearly every career professional, apart from a few higher paid jobs like dentists,” Mr Cooke said.
The creative arts industry was hit the hardest by these statistics, where workers would need to save for more than 40 years for a house deposit. Picture: iStock
Mr Cooke said the introduction of the First Home Guarantee Scheme, allowing 5 per cent deposits for first home buyers without lender’s mortgage insurance, might not do much against the rising wage concerns.
“You could get help with the deposit but you are borrowing more. You could be in a worse position,” he said.
Mr Cooke added he had seen rental stress grow higher than mortgage stress, making it harder for renters to save while dealing with cost of living expenses.
“Landlords were pretty quick to increase their rents as their mortgages went up, but they won’t be as quick to decrease as their mortgages get cheaper,” he said. “It’s getting harder for non-property owners.”
“Overall the best thing the government can do, an we’re seeing this from economists as well, is increase housing supply.”
Struggling renters are feeling landlords hike up rental fees, making it even harder to save. Picture: Liam Kidston
Research gathered by HR recruitment company Employment Hero found 1 in 3 Aussies were now holding multiple jobs to handle their living expenses, with that number up to 56 per cent among 18-24 year-olds.
CEO and founder Ben Thompson said the problem was only growing deeper, with owning a home now out of reach for many working Aussies.
“For many, extra work is the only way to keep long-term goals like home ownership alive,” he said.
“Housing affordability is almost certainly a big driver [of work], but it’s not the only one. Everyday costs – rent, groceries, transport – are eating into paychecks, leaving one income stretched to cover life’s basics.”
Employment Hero CEO Ben Thompson said everyday cost of living expenses were forcing a third of Australians to work in multiple jobs. Picture: James Gourley
Despite soaring house prices, the report found Queensland still lead the way in terms of job growth, having seen year-on-year increases between 5.8 and 8 per cent.
“There are a number of contributing factors here,” Mr Thompson said, “one being Queensland’s diverse economy, spanning resources, tourism and hospitality, all of which are strong employers.”
“Jobs are following the people, and people are following the jobs.”
Mr Cooke said while all careers now have a high threshold to afford a solo deposit, blue collar workers could save while taking apprenticeships and had better protections against Artificial Intelligence.
Mr Cooke said blue collar workers had greater protections from future redundancies due to the rise of AI in technical industries. Picture: NewsWire/Nikki Short
“We are already seeing headlines about banks letting go of customer staff and replacing them with AI,” he said. “It’s particularly concerning for those who don’t yet have a career and are coming out of uni.”
Creative fields, data analysis and journalism were among the fields Mr Cooke named as under threat by rising AI integration within businesses.
“All of those careers are going to face significant challenges,” he said. “Nobody quote knows what the impact of that might be.”
“Trades on the other hand pay pretty well. You get four years of pay for an apprenticeship and some trade skills could be far more valuable in the long-term … you can’t get AI to fix your toilet.”
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