A new study shows that young Australians are overwhelmingly optimistic about home ownership and believe they will one day own property.
The research conducted by ABC program Hack showed that 79 per cent of Aussies aged 18 to 29 believed they would own a house one day, and this is despite over half of them having less than $5,000 in savings.
In fact, the research showed that 42 per cent of young Aussies still live at home and 28 per cent have over $5,000 worth of debt.
The optimism in real estate is important to agents as the market cools down and is at the forefront of the latest venture from Kohab.
Kohab is a digital platform and marketplace that aims to enable more Aussies to own their own property through co-ownership.
CEO and co-founder David Dawson said that their desire was to get Aussies on the property ladder, which is why they had partnered with apartment builder Dyldam.
“Kohab was founded through our desire to get more Australians into more homes,” Mr Dawson said.
“We have partnered with Dyldam to enable more Australians to get onto the property ladder by facilitating their co-ownership journey.”
Unlike other fractional investment platforms, Kohab educates co-owners to purchase a property as tenants in common, allowing members to become property owners alongside like-minded individuals.
The recent partnership with Dyldam is a first for property developers and would allow buyers using Kohab to get a discount on apartments in a new development in Western Sydney.
Chief operating officer of Dyldam Remon Fayad said that his company was all about affordable living, which was why the partnership with Kohab made sense.
“Partnering with Kohab continues our commitment to helping Australians access the property market. Our latest development is ideal for family, friends, flatmates to co-buy, whether as an investment or as their home,” Mr Fayad said.