One in six Australians were in their 20s when they purchased their first home, according to an online poll conducted across the Aussie social media community.
The poll found that 16 per cent of respondents were under 20 when they first got on the property ladder, while 10 per cent were aged 31-40 and 13 per cent had never owned a house.
Aussie customer Darren said he was 20 when he purchased his first house in western Sydney in the 1990s.
“I received a gift of $10,000 from my parents and I used it to put down a deposit on an $84,000 3-bedroom fibro house in Rooty Hill,” he said.
“I rented it out and then bought a unit in Gladesville a few years later.”
Darren lived with his parents for a few years after that, before selling both properties to buy a new home to live in.
“It would be harder to get your foot on the property ladder now as house values are obviously higher, so you need to save a bigger deposit.”
Kids in their teens and early 20s aren’t necessarily earning high salaries, so that helping hand from Mum and Dad is still as important as ever.