Renee Brown with daughter Ariana. Ms Brown used the Home Guarantee Scheme.
Younger Australians are increasingly viewing their homes not just as a roof over their heads but as a potential vehicle for increasing their wealth.
New research has revealed Gen Z were embracing property side hustles, strategic debt and property-based income schemes – essentially using their home as a financial tool to get ahead.
The Great Southern Bank No Place Like Home report showed just under two thirds of Gen Z homeowners were considering using their homes as a source of income.
This included turning their home into an investment property, renting out a spare room or running a business from home.
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Source: Great Southern Bank & The Clever Stuff 2025
Great Southern Bank chief customer officer Rolf Stromsoe said the data reflected a generational shift in how younger Australians viewed homeownership.
Many no longer saw their abodes as simply a place to live, but as a way to get ahead financially, Mr Stromsoe said.
“There’s a proactive mindset among younger Australians,” he said. “They’re thinking entrepreneurially about how to make their home work harder for them.
“Having a home is both a personal milestone and a launchpad to help build wealth or build a side hustle.”
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Great Southern Bank Chief Customer Officer Rolf Stromsoe
Renee Brown is among those who have recently bought a home with an eye to turning it into an investment property at some point down the track.
The supply chain specialist and single mum said she wanted to keep her Central Coast home as an investment if she upgraded and saw it a financial asset for retirement.
“If we do move or upgrade, we’d keep this townhouse as an investment as we’re in a great location,” Ms Brown said, adding that she wanted to use the property to support her retirement travels.
“I see this home supporting my retirement plans as well as providing financial safety and security to my daughter’s future,” she said.
Source: Great Southern Bank & The Clever Stuff 2025
Great Southern Bank noted that changing perspectives around the role of property in building wealth were being influenced by high living costs: many Gen Z home buyers saw an investment property as the only viable stepping to their dream home.
Many younger Australians were reported to have faced struggles buying on their own.
Nearly half (47 per cent) of Gen Z homeowners required financial help from family or friends to purchase their property, the bank reported.
This was money they often had to pay back: 44 per cent of those polled said they planned to repay their parents as soon as possible, 30 per cent intended to repay the funds with interest and 27 per cent planned to repay at a later date.
Five per cent of respondents who received financial help said they won’t be able to pay the money back.
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Source: Great Southern Bank & The Clever Stuff 2025
The report noted that parents were usually willing to make large sacrifices to help their children get a leg on the property market.
Almost one in four parents surveyed said they would be happy for their kids to live at home forever. This figure rose to 40 per cent among Baby Boomers.
Mr Stromsoe said this was a natural evolution in how families were helping each other.
“It’s no surprise that many Australians need a helping hand to get into the property market – but what’s striking is how committed they are to paying that support back,” he said.
“That will be reassuring news for parents who want to help their children buy a home but feel unsure about making a financial gift … In many cases, it’s not a handout – it’s a handshake.”
HOW HOMEOWNERS PLAN TO PAY BACK THEIR PARENTS
Source: Great Southern Bank & The Clever Stuff 2025
Ms Brown said she accessed the federal Home Guarantee Scheme to purchase her home with a smaller deposit, sooner.
Ms Brown started with $50,000 debt which she paid down while saving a 10 per cent deposit with help from her broker. She also cut costs by living with family for a year, increasing her income and making lifestyle sacrifices such as no eating out, cancelled gym memberships, local holidays and free activities.
“Living with family for a year was a crucial part of my savings process,” she said.
“As was changing jobs to increase my salary. My daughter and I also consciously adjusted our lifestyle for the long-term gain of having our own home.”
Renee Brown with daughter Ariana and their dog Daisy.
Ms Brown inspected up to 15 properties each weekend and put bids in on multiple – eventually finding a safe, pet-friendly home that ticked all her must-haves.
Ms Brown offered some insight for others navigating the market.
“I think it’s important for anyone wanting to buy a home, particularly if they’re not in the best or ideal financial position, to know that you can play the long game and win in the end,” she said. “It might take a few years as opposed to a few months, but it is possible.”
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