Australian millenials are ready to buy and are on the hunt for larger, suburban properties for their first home purchase, a report commissioned by ING reveals.

ING’s new Millennial Homeownership Report revealed;

·      57% of Australians aged between 22-37 years old are cutting back on indulgent dinners, travel, and even weddings to save for a home deposit.  

·      38% of those surveyed are ready to purchase in the next 3 years.

·      61% are happy to live a little out of the city, in un-established, ‘less cool’ areas

·      88% of millennials want to own a home to give them a sense of security about the future

So what’s stopping them?