Only 28% of Aussie millennials own a home: survey

Sydney

AUSTRALIAN millennials have the second lowest level of home ownership for their peer group, an HSBC Holdings Plc survey found, just ahead of an oil-rich absolute monarchy.

Only 28 per cent of Australians aged between 19 and 36 own a home, pipping the United Arab Emirates (UAE) on 26 per cent, the survey of more than 9,000 people in nine countries showed. That was well below France on 41 per cent and far beneath China on 70 per cent. Three-quarters of Aussie millennials said the challenge of saving a deposit was their biggest barrier.