Young people not flying the nest

Young people not flying the nest
Image: Young reluctant to leave home comforts. Photo: Supplied

BY SOPHIE STOCKMAN

Census data has shown that in recent years more young Australians are living with their parents into their late 20s. 

Statistically, more than one-fifth of Australians aged between 25 and 29 still live at home with their parents, and that figure doubles for those aged between 20 and 24. 

Glenn Capuano, Australian Bureau of Statistics analysis, has noticed the increasing reluctance for young people to leave home. 

“It’s a small trend, but it’s definitely there”.

Circumstances where children in their late twenties continue to live at home with their parents are controversial in society. 

The media often condemns young people for lacking independence and “bleeding their parents dry”.

Emma, 27, lives with her husband and her family in her childhood home and admits that there may be some truth to the stereotypes.

“I mean, some of it is true, we are kind of lazy”.

“I have everything I need at home… I don’t need to move out”.

However, there seems to be another side to the story explaining why young people are reluctant to move out. 

Many young people have pointed to the increasingly expensive housing market as a major factor in preventing independent living. 

Economist Dr Andrew Wilson acknowledges the financial hurdle faced by many young people in gaining access to the real estate market.

“Rent is rising and there is strong competition for properties”.

“That’s a reason why young people are staying at home, because even just renting a property is far more expensive than living at home”.

Edwina, 29, lives with her parents in the eastern suburbs of Sydney. 

Currently studying at university, Edwina sees this as her only viable option. 

“I would absolutely move out if I could, but it’s just so expensive”.

“Anywhere that’s close enough to work or university is absolutely out of reach for someone like me who isn’t working full time yet”.

2016 census data revealed that 56 per cent of Australians now hold a post-school qualification. 

Edwina believes that this cultural shift for pursuing careers and higher education is a major factor contributing to young people staying at home for longer. 

“As a young woman I want to build a professional profile before I settle down and have children… and living at home has allowed me to do this”.

Despite calls to increase New Start and Youth Allowance, the 2018 budget has ignored concerns from young people struggling to support themselves while studying.  

Emma explains how tough it can be for a mature age student to juggle study and work commitments, let alone trying to pay rent on top of that. 

“I still work part-time around my class schedule, but even then am not in the position to be able to fully support myself”

“There’s no way I could work full-time with having to be constantly doing placements and internships while studying”

However, Dr Wilson advises young people seeking to enter the real estate market to lower their expectations and be more frugal with their finances in order to move out. 

“Saving for a deposit means making sacrifices in terms of budget and consumption profile”.

“Perhaps there also needs to be more compromise in terms of the location and condition of a property”.

He also suggests that turning to the banks is a great option for young people looking to enter the housing market.

“There has never been a better time for first homebuyers in terms of lending capacity”.

“The banks are quite amenable and no longer have the same restrictions on lending as there have been in past generations”.

Dr Wilson does subscribe to the view that while young people are able to make good choices for better outcomes, the government also has a part to play in assisting young renters and first homebuyers. 

“At the end of the day we really have to look at the supply side of the argument”.

“A clear solution to under representation by first home buyers is to provide more housing in the first instance”.

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