How young people can tap into the property market?

[Jamie_]

Property is still affordable for young people, too often though their money just gets "pissed" away, literally.
Other issue I see and am also experiencing, is we all want to buy in the areas where we grew up, where 25-30 years ago our average parents bought which have all now gone up in value 8-12 times and are no longer obtainable at a traditional first home owners market (under 500k).

As D.T said in post #6, Tell your friend to go and get a full time job before they want to buy."
You simply can't expect to own a house on your own, when you are working part time or on apprenticeship wages. It's not a case of the market being too inflated, just your own desire for want.

 

[Jamie_]

Really not that much to it to be honest. I started saving for my first house when I was 16, worked nights while at uni. Paid deposit, acquired house.

To be fair though, it's a *lot* more difficult to save for a deposit and service a loan for a FHBer in the eastern States with the large median variance compared to SA - but there's nothing stopping your friend for purchasing regional/interstate.

The flipside is that the properties he would qualify for would most likely be neutral to slightly positively geared, minimising the impact on his low income.

Cjay bought his first house outright