It's not hard to buy a house if you're renting with no deposit. People live within their means. Doesn't matter if they earn $50k or $150k a year, they'll live with what they've got, provided they can budget properly. If you have no deposit, often the best way to get into a property is to take out a personal loan for 5% of the property value, and borrow 95% from the bank. Pay interest only on the mortgauge for the first 5 years or however long it takes to wipe out the personal loan. Then once it's gone you can start paying some principle, and over those 5 years your captial growth is almost 50% (based on house prices doubling every 9.3 years as per stats) of what you paid. Very, very loose example: $300,000 property 95% finance = $285,000 5% or so Personal Loan = $15,000 First home owners grant goes towards stamp duty and excess is splashed onto person loan. 5 or 6 years later the property is worth is excess of $450,000. This provides much more financial security than paying someone else's mortgauge. Rent is 100% interest! P.S. I bet you can't tell what I sell lol