Cost of living pressures hitting young North Queendlanders hard

‘Unrealistic’ and ‘horrendous’ is how a young person in Townsville has described the cost of living and housing pressures. Here’s why.

Amazon Australia have released ‘The Young Aussie Home of 2023’ Report

The cost of living crisis and housing pressures has resulted in almost half of the state’s Gen Z and Millennial population changing their living situation over the last year, a report has revealed.

The Amazon Australia sponsored study -The Young Aussie Home of 2023 Report – has detailed the impact of the state’s crippling housing shortage on the state’s youngest cohort., revealing 47 per cent of Queensland’s Gen Z and Millennials altered their living situation in the past 12 months.

Gen Z and Millennials, or the ‘Young Aussie’ generation, born between 1997 – 2009 and 1981 – 1996 have had to adapt when it comes to their homes and living spaces.

Maddison Jones, 24, has recently downsized to a two-bedroom townhouse in south Townsville that she shares with a housemate for $315 a week.

Despite working full-time in customer service, Ms Jones doesn’t think she will ever own a house saying “It’s so unrealistic.”

“The past year, that has really been solidified. It has been horrendous,” she said.

According to Amazon Australia’s ‘The Young Aussie Home of 2023’ Report around 14 per cent of young Queenslanders are living with more people to share costs.

Eighty-four per cent of Young Aussies surveyed said they want to own their own home but estimate they’ll be renting for, on average, five more years before entering the property market.

Around 14 per cent of young Queenslanders said they’re living with more people to share costs and three out of 25 have downsized.

Ms Jones spends much less time outside the house than she used to saying she’s had to cut back on socialising and doesn’t often splurge on clothes or “little treats”, it’s all just the essentials.

“You scarcely will buy something you really want,” Ms Jones said.

To save money as a result of cost-of-living pressures, 27 per cent of Queensland’s Gen Z and Millennials agreed with Ms Jones’ sentiment saying they were happy to spend less on entertainment.

But only around 12 per cent would be willing to cut the amount they spend on homewares.

Ms Jones and her housemate certainly don’t want to cut money on home decor and often shop online at Amazon filling their home with trinkets and plants.

“We like making where we spend most of our time nice,” Ms Jones said.

Amazon Australia’s Head of Homes Ian Bradley said “Just because you’re renting or looking to save doesn’t mean you have to compromise.”

To help Young Aussies kit out their homes, rented or otherwise, Amazon Australia is now offering customers home ‘bundles’. The one-click starter packs have a variety of products for specific use cases – built from research findings.

The ‘Young Aussie Home of 2023’ research report can be found at aboutamazon.com

Originally published as Cost of living pressures hitting young North Queendlanders hard