Young Aussies delaying retirement to buy first homes

Younger Aussies face a dire reality that getting into the property market might mean sacrificing retirement plans for later. The research from Great Southern Bank reveals younger Aussies are entering the property market with larger deposits than previous generations, while expecting a much longer road to retirement. Millennials were most likely to put down a 16 to 20 per cent deposit for their first home, Gen Z were most likely to have paid an 11 per cent to 15 per cent deposit compared with 5 to 10 per cent among Baby Boomers The long-term financial impact of home ownership is shaping plans for the future with four in five Aussies (80 per cent) who believe cost-of-living pressures will delay their retirement. The most common expectation of this stalled plans was a delay of three to five years (22 per cent), followed by five to 10 years (21 per cent). MORE: MP exposes deep flaw with efforts to fix housing crisis Source: Great Southern Bank & The Clever Stuff 2026. Pictures: Supplied The insights form part of the latest ‘After’ phase of Great Southern Bank’s third annual No Place Like Home report, exploring how changing economic conditions are shaping Aussie experiences and expe...