Young couples would rather get a foothold in the property market before having babies, according to new research.
One in three people are delaying plans to start a family as the cost of entering the property market rises, according to a new poll by real estate agents PRDnationwide
“The long term trend has seen prices for houses rising, however the recent softening of values in many areas are likely to tempt many potential purchasers into homeownership as these conditions will not hold in the long term, “PRDnationwide research director Aaron Maskrey said.
“It is changing important life decisions like when to start a family in such a significant way.”
But despite the fact that property is becoming increasingly unaffordable, with Australian families expected to pay 35.3 per cent of their income to service their home loan, Mr Maskrey said a number of respondents weren’t deterred.
Of the 2000 respondents to the survey, 55 per cent said they would not let the state of the property market deter them from having children.
“While it is responsible to ensure that you can afford to support a new baby – the truth seems every generation has had not dissimilar problems,” he said.