Daily BulletinDaily Bulletin

Real Estate

  • Written by Helen Hull



An uncompromising generation is cutting itself out of home ownership according to leading real estate agency Gunning.

Gunning Principal Malcolm Gunning said while property prices are on the rise there is a generation of buyers who are missing out because they aren’t prepared to make sacrifices.

“There are lots of young people who are complaining that it is too hard to buy in Sydney, however they won’t forgo their material possessions,” Mr Gunning said.

“More and more we are seeing a victim mentality associated with the high cost of property, yet this ‘generation selfish’ sees wide screen TVs, designer clothes, international holidays and eating out as every day essentials. They simply won’t do what is necessary to cut their lifestyle in order to save a deposit.

“They also aren’t prepared to invest in a stepping stone property, in a less desirable location, they want the Surry Hills pad, right now and won’t modify their expectations.”

According to Mr Gunning this issue appears to be limited to Sydney.

“While we must recognise that government incentives have been reduced to new properties and the issue of bracket creep is an important one, Sydneysiders are those who have the biggest problem.

“Young people in regional areas, who are not bringing home as big a pay packet, are making sacrifices to get into the property market. They recognise that getting onto the property ladder should be a priority and do everything they can to ensure they are saving to get to their end goal,” Mr Gunning said.

Friday essay: on reckoning with the fact of one's death

arrow_forward

Vital Signs: this university funding crisis was always coming – COVID-19 just accelerated it

arrow_forward

For some companies, JobKeeper has become DividendKeeper. They are paying out, even though the future looks awful

arrow_forward

The Conversation
INTERWEBS DIGITAL AGENCY

Politics

Did BLM Really Change the US Police Work?

The Black Lives Matter (BLM) movement has proven that the power of the state rests in the hands of the people it governs. Following the death of 46-year-old black American George Floyd in a case of ...

a Guest Writer - avatar a Guest Writer

Scott Morrison: the right man at the right time

Australia is not at war with another nation or ideology in August 2020 but the nation is in conflict. There are serious threats from China and there are many challenges flowing from the pandemic tha...

Greg Rogers - avatar Greg Rogers

Prime Minister National Cabinet Statement

The National Cabinet met today to discuss Australia’s COVID-19 response, the Victoria outbreak, easing restrictions, helping Australians prepare to go back to work in a COVID-safe environment an...

Scott Morrison - avatar Scott Morrison

Business News

Link Building Secrets - Comprehensive Guide

Link building has proven to be an effective approach when it comes to promoting your online website. Let's analyze the topic of developing an effective link building strategy for site promotion ...

Julia Smith - avatar Julia Smith

What to Expect from Your NDIS Verification & Certification Audit

The National Disability Insurance Agency administers NDIS (National Disability Insurance Scheme) in Australia. The NDIS Quality and Safeguards Commission governs it. As a welfare support scheme of...

Sarah Williams - avatar Sarah Williams

Why You May Need A Tower Scaffold Hire

When constructing a building, or even a multilevel structure, you must use a tower scaffold to get you into position. What is unique about this type of scaffolding is that you can build it highe...

News Company - avatar News Company



News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion