New research from The Growth D_Stillery, in partnership with Nature, reveals mounting pressure on Australian renters to consider buying their first home due to the challenging property market. The 'Property D_Stilled Report' surveyed 2,074 Australians across various buyer, seller, and rental segments, shedding light on the shifting dynamics of the property market.

The report discloses that 40% of house and unit markets have seen double-digit increases in rental costs over the past year. This rise in rental prices has prompted 61% of the 566 first-home buyers surveyed to contemplate exiting the rental market to purchase property.

However, the report also identifies a crisis in confidence among potential and current property owners. Dan Krigstein, Director of The Growth D_Stillery, states, 'The most coveted emotional state in the property sphere is confidence. It's the top emotional goal for almost two thirds of those surveyed. However, only just over a third of us claim to feel confident.'

Despite the market challenges, Krigstein notes that optimism remains strong among Australians. 'More than two thirds of those we spoke to believe that the property success they've experienced can be replicated,' he said.

The research also reveals generational concerns, with 60% of Gen X and Baby Boomers expressing worry for the property prospects of their children and grandchildren. Furthermore, the report found that 56% of respondents view home ownership as a hallmark of achievement and security, indicating a deep-seated obsession with property ownership.

Interestingly, the report also shows that 60% of respondents are interested in exploring new models and pathways to property success. A significant 69% believe that there are opportunities and ways to be successful when expectations are adjusted or desired locations are changed.

The 'Property D_Stilled Report' provides a comprehensive snapshot of the current Australian property market, highlighting the pressures, concerns, and opportunities within the sector. The research, conducted in July 2023, is available on The Growth D_Stillery's website.