You’re single, you have a sizeable savings account, and you’re excited to start a new chapter in your life. Would you rather be buying a house or travelling the world? Not all people in their 20s accomplish both goals before turning 30, which many Australians dream about and consider rites of passage.
In Perth, many single persons tend to opt for home ownership rather than one-way tickets to other countries. In fact, about one in four first-time buyers—or a little less than 25 per cent of that population—gets a mortgage and buys a property. The number of these single-person households is expected to grow in the coming years.