‘Creative’: Young Aussie reveals drastic plan to dodge housing crisis
A video of a young Aussie’s unusual living situation has exposed just how bad the housing crisis has gotten as we head into 2025.
A young Australian has exposed the depth of the housing crisis by documenting her move into her new living space.
Rhiannon Paterson, 19, isn’t moving out of home but, alongside her 21-year-old boyfriend, is relocating to her mum and dad’s garage.
In a sign of the times, the teenager shared on social media that she was moving into her parents’ garage, which is traditionally used to park a car, to “save money”.
She and her partner have renovated it to turn it into a liveable space.
Ms Paterson, who works in marketing, explained that moving into the garage was a combination of “practicality and creativity”. She wanted more privacy but didn’t want to get stuck paying rent in Sydney.
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The median house price in Sydney has hit a record $1.65 million and the median rent has surged to $750.
In November, financial comparison website Finder released research that the minimum household income required to afford the mortgage for an average Australian house is $182,000, while those owning units need about $130,000.
When you factor in the fact that the average personal income for Gen Zers is $54,065, it quickly becomes clear that housing affordability is insanely tough for young people.
In this market, Gen Zers don’t just have to be creative they often have to rely on their parents if they want to get ahead and Ms Paterson wanted to take advantage of this privilege.
“My boyfriend and I were looking for a way to maintain some independence while saving money for the future. The garage offered us the perfect opportunity to transform a space into something uniquely ours without the financial strain of renting in Sydney,” she told news.com.au.
“It was a fun challenge to convert the space, and we were able to turn it into a cosy little apartment that fits our lifestyle perfectly.”
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Ms Paterson said that staying at home - or in this case, in the garage - has allowed her to focus on her “long-term goal” of saving for a house.
“Living in the garage has allowed us to significantly cut costs, which means we can put more money toward savings,” she said.
“It’s not easy, especially with the way the property market is right now, but we’re determined to work toward owning our own home eventually.”
The 19-year-old explained that trying to buy in Sydney, even in the future, already feels like it’ll be a “difficult” task.
“The rising cost of homes, paired with stagnant wages and high living expenses, creates a huge barrier for people like my partner and I,” she said.
“For many of us, buying a home feels more like a distant dream than an achievable milestone. It’s especially tough in cities like Sydney, where property prices are some of the highest in the world.”
Ms Paterson explained that even though she’s happy living in the garage, even nicknaming it her “cubby”, that doesn’t mean she isn’t resentful she’s had to resort to such measures.
“It’s frustrating to see how much harder it has become for young people to enter the property market compared to previous generations,” she said.
“There are definitely moments of stress and uncertainty, especially when thinking about the future. At the same time, it’s motivated us to think outside the box and find solutions that work for our situation, like turning the garage into a functional living space.”
Finder financial expert, Richard Whitten, said that young people just aren’t hitting milestones at the same rate as previous generations.
“When it comes to hitting major life milestones in Australia, 30 is the new 20, 40 is the new 30,” Mr Whitten told news.com.au
“It’s just so expensive to move out of home, buy a house, have a child, and do all the things we consider major life events. So Australians do them later.”
Mr Whitten said young people are slower to forge their own way because of the cost of living crisis.
“The soaring cost of housing, particularly in cities, has made it difficult for young adults to afford their own place. This has led many to delay or give up homeownership, opting to stay with their parents as a more affordable alternative,” he said.
“Society’s attitudes towards independence have also evolved, with more young adults seeing living with their parents as a temporary phase rather than a sign of failure.”
The financial expert said he only has to look at his own family to realise how much has changed.
“It’s a different world now. And a different economy. My grandfather supported a wife and four kids on one income. My parents left home at 18 and went to work and university. I left home at 22 after graduating but then moved back for a couple of years to save for a house. I have no idea how old my son will be when he moves out,” he said.