Artifical Intelligence is rising in popularity for signficant financial and property research, but most Aussies refuse to trust it with their biggest money decisions, new data reveals.
More than one in five (21 per cent) Aussies say they have received financial advice from ChatGPT or similar AI tools in the past 12 months, spotlighting how AI is becoming a mainstream source of information.
More than a quarter (27 per cent) reported using AI platforms to inform financial information, with younger cohorts leading the way (38 per cent Gen Z and 34 per cent of Millenials).
These figures drop significantly among older generations, with just 15 per cent of Gen X and 5 per cent of Baby Boomers reporting the same.
The new insights come from the latest ‘Clever’ phase of the Great Southern Bank’s third annual No Place Like Home report series that explores Australia’s long-term financial security and how sentiment shifts throughout the homeownership journey.
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Source: Great Southern Bank & The Clever Stuff 2026
Despite the rising use of technology, the research also revealed 69 per cent of Aussies who obtained guidance from mortgage brokers or financial advisers consider this more valuable than advice from AI.
The research proved human advice remains the most trusted and valued source of guidance for major financial decisions.
Rolf Stromsoe, chief customer officer at Great Southern Bank, said AI tools were not a substitute for professional guidance.
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Source: Great Southern Bank & The Clever Stuff 2026
“While AI can be a helpful first step, it’s important to crosscheck everything you see online,” he said.
“Financial decisions, like buying a home, are long-term and complex, and speaking with a professional help ensure your choices are well-informed and suited to your individual circumstances.”
The report also revealed Gen Z are 50 per cent more likely than the average Australian to consider rentvesting – living in a preferred location while owning an investment property in a more affordable area.
Their motivations include generating rental income (36 per cent), entering the market sooner (22 per cent), and seeing it as a lower-risk option than buying a home to live in (17 per cent).
Source: Great Southern Bank & The Clever Stuff 2026
“Younger Australians are fuelled by ambition and adaptability,” Mr Stromsoe said.
“While market conditions are shifting the pathways to homeownership, they’re not dampening aspirations – we’re seeing young buyers remain determined to achieve their goals.”
Justine Vincent (28) is a human resources professional and who currently rents in Bondi.
She opted to rentvest by purchasing a property in Melbourne near the airport that enabled her to get on to the property ladder while also maintaining her current lifestyle in Sydney, near the beaches.
On her journey to homeownership, Ms Vincent used ChatGPT for her early research and when she was in a position to action things further, she was introduced to a mortgage broker via work who helped and advised her on the best property and area for her rentvestment.
Justine Vincent, who rents in Bondi, has used AI tools like ChatGPT as part of her research when exploring property.
“I used AI tools like ChatGPT as part of my research when I was exploring property and financial decisions,” Ms Vincent said.
“It was really helpful in breaking down complex topics (especially financial lingo) and giving me a clearer understanding of how things work, especially early in the process when I was trying to figure out my borrowing capacity and how much money I would need to get started.
“I also used it a lot to help me understand where I should be buying, as well as the advantages of using a buyer’s agent.”
Ms Vincent said the technology helped her to understand the basics but human advice made her take the next step.
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Justine’s house she purchased in Melbourne
Justine continues to live and rent in Sydney
“I was asking questions around things like how much I could afford, different ways to enter the property market like rentvesting, and how mortgages and repayments work,” she said.
“I also used it a lot to understand where to buy as I knew I wanted to rentvest and didn’t know much about other Australian cities to invest in and where they were in the property cycle.
“AI was great for getting quick, easy-to-understand answers and helped me build my knowledge without feeling overwhelmed.
“But when it came to making real decisions, I trusted human advice more.”
Ms Vincent said speaking to a mortgage broker felt much more personalised to her situation and they were able to assist with her strategy based on their experience.
“They could take into account my income, goals and long-term plans in a way AI can’t fully do,” she said.
“AI helped me feel informed, but human advice gave me the confidence to move forward and feel empowered.”
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