Are young Aussies feeling nervous about buying a home?
6 March 2023
Ubank x YouGov research reveals:
- 7 in 10 (69%) young Aussies are looking to buy a property in the next 5 years, with nearly half (47%) feeling confident that they can, while just over a fifth (22%) not feeling confident that they can.
- Those who use personal finance apps are twice as likely as those who don’t to say they are looking to buy a property in the next 5 years and are confident that they can (48% compared to 24%).
- Homeowners are twice as likely as non-owners to say they experience sleeping difficulties, losing sleep or stay up at night at least once a week because of thinking about or checking their personal finances (55% compared to 27%).
- Homeowners are more likely than non-owners to say that they typically check their personal finances before/during bedtime hours (31% compared to 24%).
- Homeowners are more likely than non-owners to agree that they feel financially stressed (64% compared to 53%).
- Homeowners are more likely than non-owners to agree that financial stress is impacting their sleep (78% compared to 55%).
About the research:
- This study was commissioned by YouGov in consultation with ubank.
- It was conducted between 3 – 8 November 2022.
- Over 1,000 Australian Gen Z and Millennials (aged 18-41) were interviewed.
- These Australians are referred to as “young Aussies” in the research.