The survey*, commissioned by LJ Hooker paints a clear picture of a market in transition.
Younger generations—particularly Gen Z and Gen Y—are far more open to alternatives.
Forty-four per cent of Gen Z said they’d consider buying a property with a friend or sibling, and 61 per cent are open to apartment living.
But when it comes to selling, the traditional path still holds sway: only 21 per cent of all Australians have considered going it alone without an agent.
Among Gen Z, though, that number jumps to 45 per cent.
LJ Hooker’s Head of Research, Mathew Tiller, said the allure of DIY sales often fades once the realities set in.
“At the end of the day, people want to achieve the highest price possible for their home, and this requires more than just uploading photos or videos online and hoping for the best,” he said.
“With fluctuating market conditions, competing offers, and strict regulations, working with a professional real estate agent removes stress and ensures a better outcome.”
Even as digital communication becomes more widespread, old habits persist.
Most people still prefer to meet agents face-to-face, although email is becoming more common, especially among younger buyers.
Almost half of Gen Z (48 per cent) and 60 per cent of Gen Y favour email over other methods.
When choosing an agent, Australians said the most important factors were local expertise (62 per cent), commission rates (51 per cent), and customer service (47 per cent).
As for homeownership itself, the traditional dream of the standalone house is shifting. With affordability continuing to bite, younger buyers are open to different routes.
Co-ownership, once seen as unconventional, is gaining mainstream traction, and apartments are increasingly on the radar.
“Australians still equate property ownership with financial security, but rising affordability challenges mean looking for alternative pathways such as co-ownership or apartment living,” Mr Tiller said.
Still, he urged caution: “If buying a property with a friend or family member, seek legal advice and have an exit plan in case one party needs to sell early.”
The study also highlights the growing role of parents in helping younger Australians break into the market.
Thirty per cent of homebuyers said their parents were willing to offer financial help, and among parents overall, 82 per cent are open to supporting their children in some way.
“Parents want their children to have the same financial security they have enjoyed through owning property,” Mr Tiller said.
“There are many ways they can go about this, from giving them a cash gift, acting as a co-guarantor, or even letting them stay at the family home rent-free until they have saved a deposit.”
The findings suggest that while younger generations are adapting quickly to the realities of today’s housing market, the fundamentals of trust, expert advice, and family support remain firmly in place.
*This survey was commissioned by LJ Hooker conducted by independent Research firm Edentify in December 2024, who surveys 1,000 participants across Australia.
