Finder’s RBA Survey: 35% of Aussies don’t think they’ll ever afford a home

With an alarming number of Australians convinced they'll never own property, the nation's experts weighed in on what should be done.

In this month's Finder RBA Cash Rate Survey™, 34 experts and economists opined on future cash rate moves and other issues relating to the state of the economy.

The majority (91%, 31/34) believe the RBA will cut the cash rate tomorrow by 25 basis points, bringing it to 3.60%.

Data from Finder's Consumer Sentiment Tracker (CST) shows more than 1 in 3 (35%) Australians don't think they will ever be able to afford to buy their own home.

Graham Cooke, head of consumer research at Finder, said the dream of homeownership was slipping out of reach for more Australians.

"Record prices, steep borrowing costs, and saving for a deposit are locking people out. In many suburbs, even a six-figure salary won't comfortably cover a mortgage.

"The key is to focus on what you can control – setting a clear savings goal, finding ways to cut back on spending, and taking advantage of any schemes and grants you might be eligible for," Cooke said.

On the topic of house prices, experts were asked: What is the most effective action the government could take to make housing prices more affordable?

Kyle Rodda from Capital.com had a clear message for the government.

"Build, baby, build," Rodda said.

Noel Whittaker from QUT said the only options are to reduce demand or increase supply.

"The way to reduce demand is to limit immigration and reduce all these government schemes that are allegedly making homes more affordable.

"As far as supply goes, I'm pessimistic. There's a huge bottleneck, and the bureaucratic processes of government at all levels make it nearly impossible," Whittaker said.

Nicholas Frappell from ABC Refinery noted, "Reducing immigration would reduce demand in the short run, but would not affect the supply side in the longer run."

Stephen Miller from GSFM said it was all about supply.

"Supply! Supply! Supply! Through easing restrictions on building," Miller said.

Mala Raghavan from the University of Tasmania said housing stock needed to be increased.

"That means the government should play an enabling role by introducing and coordinating policies that remove barriers to housing development.

"This includes streamlining planning and zoning regulations, investing in infrastructure that supports new housing developments, and offering incentives for affordable and sustainable housing projects.

"In addition, facilitating access to land, reducing construction bottlenecks, and partnering with private and not-for-profit sectors are crucial steps to ensure supply keeps pace with demand," Raghavan said.

(All responses listed below)

Unemployment set to rise

According to data from Finder's CST, 12% of Aussie workers feel insecure in their current job.

Finder's data shows half (49%) of Australians say they live paycheck to paycheck.

The majority of experts who weighed in* (80%, 20/25) expect unemployment numbers to rise in the next 12 months.

Stella Huangfu from the University of Sydney said unemployment is likely to edge a bit higher over the next 12 months as the economy continues to slow.

"But I don't expect a sharp jump — more of a gradual rise, perhaps towards the mid‑4s, before stabilising.

"If the RBA continues to cut rates, that should help put a floor under the jobs market," Huangfu said.

Stephen Miller from GSFM said rates had been held up by non-market sector employment.

"That will fade and the private sector is not strong enough to pick up the slack," Miller said.

Noel Whittaker from QUT thinks the unemployment rate will stabilise.

"We still have a massive demand for labour and so many projects planned. Really, anybody who wants a job in these conditions can get it," Whittaker said.

*Experts are not required to answer every question in the survey

Here's what our experts had to say: What is the most effective action the government could take to make housing prices more affordable?

Kyle Rodda, Capital.com: "Build, baby, build."

Mala Raghavan, University of Tasmania: "We need to increase the housing stock. That means the government should play an enabling role by introducing and coordinating policies that remove barriers to housing development. This includes streamlining planning and zoning regulations, investing in infrastructure that supports new housing developments, and offering incentives for affordable and sustainable housing projects. In addition, facilitating access to land, reducing construction bottlenecks, and partnering with private and not-for-profit sectors are crucial steps to ensure supply keeps pace with demand."

Nalini Prasad, UNSW Sydney: "Increase housing supply."

Nicholas Frappell, ABC Refinery: "Reduce immigration would reduce demand in the short run, but would not affect the supply side in the longer run."

Sean Langcake, Oxford Economics Australia: "Remove barriers to adding more supply."

Stella Huangfu, University of Sydney: "Boost housing supply. That means speeding up planning approvals, investing in infrastructure so more land can be developed, and encouraging the construction of medium‑ and high‑density housing in well‑located areas."

Noel Whittaker, QUT: "The only options are to reduce demand or increase supply. The way to reduce demand is to limit immigration and reduce all these government schemes that are allegedly making homes more affordable. As far as supply goes, I'm pessimistic. There's a huge bottleneck, and the bureaucratic processes of government at all levels make it nearly impossible."

James Morley, University of Sydney: "Encourage increased supply."

Nicholas Gruen, Lateral Economics: "Encourage expansions of land tax as in Victoria. And of course greater densification and ease of approvals."

Mark Crosby, Monash University: "Ensure/enforce greater density of housing, and move population growth outside major cities."

Mathew Tiller, LJ Hooker Group: "The most effective action is to boost housing supply. That means cutting red tape, assisting with financing and funding, fast-tracking approvals and incentivising new developments, especially for infill, medium-density and affordable housing. Demand-side incentives like grants, while welcome, often just push prices up, so the real fix lies in getting more homes built, faster."

Tim Reardon, Housing Industry Association: "Remove Government involvement in the market by reducing tax imposts and regulatory constraints throughout the supply chain."

Jeffrey Sheen, Macquarie University: "Encourage new housing construction in areas of high demand."

Craig Emerson, Emerson Economics Pty Ltd: "Increase supply by removing unnecessary regulation at the state and local council levels."

Shane Oliver, AMP: "Make it easier to supply more homes."

Jakob B Madsen, University of Western Australia: "Keep immigration at a minimum until the housing market stabilizes (that is, inflation gradually lowers the real prices of houses). Furthermore, the stagnating productivity in the construction industry that is almost becoming permanent, needs to be addressed by efficiency measures."

Peter Boehm, Pathfinder Consulting: "Increase supply; cut housing red tape; remove stamp duty (state level); reduce immigration; direct more federal funds to housing."

Cameron Murray, Fresh Economic Thinking: "To be clear, making our $11 trillion of housing assets worth less is politically undesirable and the whole political debate about desiring the opposite is performative."

Saul Eslake, Corinna Economic Advisory Pty Ltd: "Stop unnecessarily and artificially inflating demand."

Matt Turner, GSC Finance: "Stop fuelling demand and address supply shortages. Giving greater access to credit and incentives for FHBs is inflating house prices. We need to be providing incentive for more supply in reducing taxes for developers or introducing government developed property projects. Rolling back capital gains concessions and incentivising right-sizing is another important step."

Stephen Miller, GSFM: "Supply! Supply! Supply! Through easing restrictions on building."

Michael Yardney, Metropole Property Strategists Pty Ltd: "Unclog the supply pipeline by incentivising and enabling more private sector development—especially the "missing middle"—while removing the planning and tax bottlenecks that are driving up costs."