Aussie Millennial Home Ownership Is Second Lowest of World Peers
By-
HSBC survey of nine countries ranks China at top, UAE bottom
-
Saving a deposit cited as biggest challenge for Aussies
Australian millennials have the second-lowest level of home ownership for their peer group, an HSBC Holdings Plc survey found, just ahead of an oil-rich absolute monarchy.
Only 28 percent of Australians aged between 19 and 36 own a home, pipping the United Arab Emirates on 26 percent, the survey of more than 9,000 people in nine countries showed. That was well below France on 41 percent and far beneath China on 70 percent. Three-quarters of Aussie millennials said the challenge of saving a deposit was their biggest barrier.
“Despite the rising costs, millennials overwhelmingly still want to own a home in Australia,” Alice Del Vecchio, head of mortgages at HSBC Australia, said in a statement Thursday. “The dream certainly isn’t dead.”…
Aussie Millennial Home Ownership Is Second Lowest of World Peers
