Millennials may be facing an uncertain real estate market, but they are convinced they will, one day, buy their own home.

An exclusive YouGov poll of people living across Greater Western Sydney reveals 75 per cent of millennials are optimistic about the prospect of home ownership. In comparison, 72 per cent of renting baby boomers have resigned themselves to never obtaining the great Australian dream.

NewsLocal has partnered with Lendlease to commission the poll to determine what it is to be part of western Sydney.

Leading social demographer Mark McCrindle said “the expectation of determined first home buyers” was shaping population growth in booming residential markets.

WEST LIFESTYLE

MILLENNIALS (75 per cent) are the most optimistic about the prospect of home ownership

THE majority of baby boomers in rented accommodation (72 per cent) have resigned themselves to never owning their own home

ABOUT half of those who rent in western Sydney (53 per cent) are optimistic they will own their own home one day

‘The great Australian dream is still alive and well in western Sydney,” Mr McCrindle said.

“This can be witnessed first hand by the dramatic increases we are seeing in the population.

“People are more realistic about the choice they must make when purchasing a home in western Sydney; they identify goals and are aspirational about climbing the property ladder.” Mr McCrindle described western Sydney as “the backbone of the Australian economy”.

Development in Cobbitty.

Australian Bureau of Statistics data revealed the Macarthur region suburbs of Cobbitty and Leppington were leading the population charge, with the fastest and largest amount of growth in the past 12 months across NSW and ranked third highest in the country.

This increase resulted in a 22 per cent uplift of 4054 residents calling the region home.

Riverstone and Marsden Park were a close second on the state list with an increase of 21 per cent, seeing 3775 people relocate to the north west growth precinct.

Development in Riverstone.

Warwick Farm, Elderslie and Harrington Park also witnessed some of the fastest growth occurring in NSW, averaging a 5.5 per cent increase in population.

A Lendlease spokeswoman said first home buyers have always been a very important part of the real estate landscape.

“Young families and couples make up the majority of homeowners in our communities,” the spokeswoman said.

‘STAY AT HOME AND WORK HARD’

FIRST-home buyers Jarrod Redmond and Rebecca Michelsen made small sacrifices to secure their first home — but in the long run, it paid off.

Just last month, Mr Redmond, 23, and his partner Miss Michelsen, 21, purchased a home in the sleepy western Sydney suburb of Emu Heights after saving for a deposit for 18 months.

“The penny dropped for me when I realised the housing market was continuing to skyrocket and I was preparing to start climbing the property ladder,” Mr Redmond said.

“We did some research and found out just 18 homes had sold in the past five years, so we knew it was the perfect spot to make our first investment — people didn’t want to leave.”

Mr Redmond said he and his partner scouted suburbs across the west before settling on Emu Heights.

“It was always my plan to buy my first home at 23, just like my parents did, that was a real motivator,” he said.

Mr Redmond, who is currently working as an electrician at residential developments in Norwest Business Park and Bankstown said he sees the growth in residential development across western Sydney first hand.

“The Sydney Metro has created growth in residential development,” he said.

Miss Michelsen, who works at Wetherill Park, said she was “determined to invest in brick and mortar early on”.

“I never wanted to be in a position where my money was being wasted on renting, so that was a major drive for our decision to buy a home at 21,” she said.

“Jarrod and I both had the same goals and we achieved that goal.

“Our parents are so proud of what we have done because they have guided us to make this decision, they were in shock and surprised about how quickly we achieved our goals.”

The couple said they would encourage first-home buyers to “stay focused and stay at home while saving”.