Millions of Australians have less than $1000 in savings: Finder
New Finder data released this week showed 38 per cent of Australians have under $1000 in savings, which equates to approximately 8.294m Australian adults — based on 2025 population figures from IBISWorld.
Zippy Financial principal broker Louisa Sanghera said the finding wasn't just a red flag, it was a 'deal-breaker' for anyone hoping to secure a home loan without family help.
'You can't get into the market with that kind of balance,' Ms Sanghera said.
'Unless mum and dad are stepping in as guarantors, most buyers with under $1000 saved are completely locked out.'
While schemes like Labor's First Home Guarantee offer a five per cent deposit towards getting on the property ladder, Ms Sanghera said that was still out of reach for many would-be buyers.
'Yes, you can buy with five per cent, but the bank still needs to see genuine savings, consistent income, and evidence you can service the loan,' she said.
'That means the $1000 crowd are being left behind — even with government help.'
M R Advocacy director and buyer's advocate Madeleine Roberts said the figure pointed to a 'massive gap' between financial reality and what was needed to secure a home loan.
'We're talking about people with less than $1000 saved, at a time when even getting taken seriously by a lender means having at least $80,000 in the bank,' Ms Roberts said.
'It's not just the deposit — it's stamp duty, legal fees, upfront costs. And meanwhile, the cost of living keeps climbing.'
Ms Roberts said rentvesting and co-buying were on the rise, but warned the emotional toll of being priced out was taking its own form of cost.
'I've got clients in their 30s still in sharehouses, watching prices climb every month while they sacrifice holidays, (and) dining out, just to chase a deposit,' she said.
'Some still make it. But more and more are quietly walking away.'
PropTrack senior economist Anne Flaherty said affordability pressures were reshaping the market, with more buyers turning to one-bedroom units and regional alternatives.
'Affordability pressures are driving people to smaller or cheaper markets,' Ms Flaherty said.
'But the broader challenge remains unchanged: saving at all. For many renters, there's simply nothing left over.
'Rents are rising fast. Real incomes have gone backwards.
'The amount of money left after essentials — household disposable income — is at extremely low levels.'
The savings figure comes amid broader concerns about housing inequality, with Ms Flaherty warning the divide between those with parental support and those without is growing wider.
'We're heading into one of the largest intergenerational wealth transfers in history, and it's deepening the wealth gap,' she said.
'If you don't have access to family support, getting into the market is significantly harder.'
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