‘Ruthless’: How two in 5 Aussies will buy a home in next 5 years
<p class="Text__Typography-sc-vzn7fr-0 kqoxux StyledP-sc-cebixd-0 bzEerj">Pandemics, rate hikes, dire supply, nothing is fazing the real estate juggernaut with two in every five Aussies set to buy a home in the next five years, doing whatever it takes to get there.</p> <p class="Text__Typography-sc-vzn7fr-0 kqoxux StyledP-sc-cebixd-0 bzEerj">The latest Westpac Home Ownership Report found 44 per cent of Australians planned to purchase a home in the next five years, a 9 per cent jump since the same survey was taken in July last year.</p> <p class="Text__Typography-sc-vzn7fr-0 kqoxux StyledP-sc-cebixd-0 bzEerj">And that surge will be joined by a 6 per cent rise in investors looking to buy property, a 4 per cent jump in people planning to upsize and 4 per cent increase in people looking to put funds into renovations.</p> <p class="Text__Typography-sc-vzn7fr-0 kqoxux StyledP-sc-cebixd-0 bzEerj">This as new ABS data showed the number of people with more than one job climbed to over 970,000 across the country, with multi-job holders becoming increasingly creative in their side hustles to build up savings.</p> <p class="Text__Typography-sc-vzn7fr-0 kqoxux StyledP-sc-cebixd-0 bzEerj">Westpac managing director of mortgages Damien MacRae said Aussies were focusing on long term goals doing whatever it took to get to home ownership.</p> <p class="Text__Typography-sc-vzn7fr-0 kqoxux StyledP-sc-cebixd-0 bzEerj">“While some buyers have paused their housing plans, the intention to buy remains strong and prospective buyers are becoming more ruthless with their goals,” he said. “They understand it’s a big task, but they are determined to break into the market and are willing to compromise to get there.”</p>

