A woman has revealed her frustrations at not being able to get a “decent” property even with almost $100,000 in savings.
The anonymous 30-year-old woman was stopped on the streets of Sydney and asked about her aspirations in the property market.
She revealed she had saved $95,000 before admitting it still wasn’t enough to get her foot on the property ladder.
“I think you’ve been sold the lie that you work hard, save a lot of money and you’ll be able to get into the real estate market because that’s exactly what I’ve done,” he said in a TikTok video shared by property app Coposit Street.
“Right now it’s still unattainable, especially for a single woman.”
“I think you’ve been sold the lie that you work hard, save a lot of money and you’ll be able to get into the real estate market because that’s exactly what I’ve done,” the woman said.
The woman said she was initially undecided between maintaining her current good standard of living or purchasing property.
She said she was initially undecided between maintaining her current good standard of living or buying property.
“So I’ve decided to take a break and study a little more for a master’s degree so I can live better, hopefully in the next five years,” he said.
The woman said even current prices for basic housing have discouraged her.
‘Even to get into something decent, even like a two or three bedroom semi-detached house. “It sounds like $650,000,” she said.
‘If you haven’t bought a house yet and you have that equity.
“Even with what I have saved, it is very difficult for banks to lend you that much money for what you need.”
The median house price in Sydney was expected to reach a new record of $1.933 billion in just three years (pictured is the Sydney Harbor Bridge as seen from Observatory Hill).
TO University of Melbourne Household, Income and Labor Dynamics in Australia (HILDA) Survey revealed that 54 percent of men and 47 percent of women aged 18 to 29 still lived with their parents.
Rising housing costs were cited as one of the contributing factors.
The future does not look promising, with house prices set to rise by more than a third over the next three years and Sydney’s median price will reach almost $2 million.
Oxford Economics Australia forecasts the city’s median house price will reach $1.934 million by June 2027, with Perth reaching $1 million.
