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Many young Australians are disillusioned with the property market, but others have devised strategies to afford their first home.
According to an ME Bank survey of 1,000 Australian adults, 26 per cent of respondents aged 18-29 believe they will never be able to afford to buy their own home.
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That compares to a result of 18 per cent for adults of all ages.
However, the survey also found that 24 per cent of those younger Australians are finding ways to increase their savings, compared to the overall result of 12 per cent.
According to the survey, 20 per cent of younger respondents are finding ways to increase their income, compared to 11 per cent overall.
The results also showed that 14 per cent of younger Australians would buy jointly with friends or family, compared to 6 per cent overall.
Another finding was that 12 per cent of younger Australians would be prepared to change their expectations on size, quality or location, compared to 6 per cent overall.
Most respondents who own a property or plan to buy expect prices to keep rising in the next 12-24 months.
The survey found that 51 per cent expect prices to rise, 40 expect prices to remain steady and nine per cent expect prices to fall.
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