Why 'Generation Rent' Is Becoming 'Generation Invest'

As living costs rise and property prices remain high, younger Australians are not giving up — they are getting strategic. According to Great Southern Bank’s No Place Like Home report (April 2024), 32% of Gen Z and 34% of Millennials are planning to purchase an investment property within the next three years. Rather than waiting to buy their dream home, they are choosing to invest first, building wealth through rental properties while continuing to rent in lifestyle suburbs.

Creative Paths to Property Ownership

Young buyers are taking smarter routes into the market. 44% of Gen Z and 30% of Gen Y say they would consider co-ownership with friends or siblings. Others are rentvesting — renting where they want to live while owning in more affordable growth areas. This shows a shift in mindset. It is not about waiting for the perfect home. It is about getting in the market now and letting property work for them.

Advice Matters and Gen Z Gets It

One of the biggest barriers holding Australians back is the belief that they need a large savings balance before seeking advice: 46% think they need $100,000, 20% believe $50,000 is the minimum, and 13% say $20,000. But Gen Z is more likely than older generations to seek help earlier, even with modest savings. They are reaching out to family, friends, banks, and accountants sooner, and that early action could give them the edge.

They Are Making Smart Sacrifices to Invest Sooner

Younger Australians are not letting cost-of-living pressures derail their property goals. They are adjusting spending now to take action sooner. The report shows 40% are spending less on groceries, 25% are cutting back on dining and entertainment, Millennials are prioritising their children’s needs and personal wellbeing, and Gen Z is making fewer compromises, showing long-term confidence. These are not just lifestyle tweaks — they are strategic choices that support the goal of buying property and building wealth.

Join the Young Investors Club

If you are in your 20s or 30s and looking to turn smart money moves into long-term wealth, the Young Investors Club (YIC) is here to help. We offer tailored education on smart investing, access to property opportunities, and a community of young Australians building their future.

→ Ready to take the next step? Contact us at enquiries@younginvestorsclub.com.au

Source: Great Southern Bank – No Place Like Home Report, April 2024