Barriers to entering affordable home ownership for young people: A preliminary study from university students’ perspectives

Susilawati, Connie & Wong, Leh Roo (2014) Barriers to entering affordable home ownership for young people: A preliminary study from university students’ perspectives. In Bond, Sandy (Ed.) 20th Annual Pacific Rim Real Estate Society Conference, 19-22 January 2014, Lincoln, New Zealand.

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Abstract

Over the last two decades, housing affordability has been a problem for young people, and identified as factor leading to youth homelessness. The National Youth Commission Inquiry into Youth Homelessness developed a roadmap for preventing this problem (National Youth Commission, 2008). The roadmap recommends increasing the supply of affordable housing for young people as an important strategy to reduce the risk of homelessness problems. In addition, understanding the barriers and the needs of young people is a significant part of the development of a national affordable housing strategy. This paper explores issues encountered by young people when they enter the housing market as first home buyers. A short survey was conducted to review the barriers to entry, classified by income levels, housing cost and availability of affordable housing. In the current competitive job market, young people have minimal work experience, relatively low job security and low income. In addition to these barriers, participants also suggested other barriers towards the purchase of their first home, such as lack of knowledge of legal issues and lack of government funding. This study suggests the need for both government and educational support for young people around housing choices and the development of financial strategies to manage barriers towards owning their first home.

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ID Code: 83852
Item Type: Conference Paper
Refereed: Yes
Additional URLs:
Keywords: barriers to entry, affordable home ownership, youth housing, housing affordability, housing choice
Subjects: Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > URBAN AND REGIONAL PLANNING (120500) > Housing Markets Development Management (120503)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > COMMERCIAL SERVICES (150400) > Real Estate and Valuation Services (150403)
Divisions: Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2014 [please consult the authors]
Deposited On: 05 May 2015 02:13
Last Modified: 10 May 2015 04:32

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