Home ownership levels among Australian millennials are lower than their peers in the US, Canada and Britain, a survey by HSBC has found.
But by far the biggest challenge to buying a home is saving enough money for a deposit, cited by 75 per cent of millennials, according to the report.
"Despite the rising costs, millennials overwhelming still want to own a home in Australia.
A key problem in post-mining boom Australia has been anaemic wage growth as the economy adjusts to regain global competitiveness.
While on average 36 per cent of millennials have received help from their parents, just 30 per cent of Australians have tapped that source.