The growing cost of housing is dashing the hopes of single home buyers, with 70 per cent of single Millennials believing home ownership is a mathematical impossibility without a partner.
While buyer determination remains high with potential home buyers, single home buyers are feeling increasingly disenfranchised with the property market.
According to the latest Mortgage Choice Home Loan Report, released on Wednesday (11 February), around 42 per cent of Australians are planning to purchase a house in 2026, but many believe that the rising cost of housing is making home ownership increasingly difficult for single home loan applicants.
The report, which analysed Mortgage Choice home loan submission data and included a survey of 1,000 Australians conducted by Honeycomb Strategy in January 2026, found that solo flyers are feeling increasingly defeated.
Among survey respondents who planned to buy property in the next 12 months, more than half (53 per cent) plan to buy with their partner, 42 per cent said they plan to buy on their own, 4 per cent plan to buy with family and 1 per cent plan to buy with someone else.
However, the survey revealed that only 29 per cent of single home buyers feel confident they can buy property on a single income.
Indeed, more than half (54 per cent) of those planning to buy said they felt they were being priced out of the market because they are single – with 47 per cent believing that being in a couple was the only realistic way to afford to buy property.
This sentiment is felt most acutely by single Millennials (those born between 1981 and 1996), with 70 per cent saying they felt priced out of the market unless they pair up.
The Mortgage Choice data shows that the national average loan size has increased by almost $70,000 year-on-year, while Cotality data recently found that the median property value in the combined capital cities rose to $1,002,462 in December.
For home buyers who plan to purchase a home as a couple, two-fifths plan to split mortgage repayments evenly between both parties, while 18 per cent will split repayments based on income (with the higher earner contributing a greater share toward mortgage repayments).
Around half (47 per cent) of prospective buyers in a couple plan to split upfront purchase costs, such as the deposit and stamp duty, equally.
Nevertheless, even those who have purchased a property as a couple are feeling the burden of home ownership.
According to the report, 62 per cent of respondents believe their relationship has been impacted by mortgage repayments or the struggle to save a deposit over the last year.
Over a quarter of couples said they were staying in rather than going out on dates in order to save money, while 24 per cent said they reduced how often they go out, and another 24 per cent were spending less on gifts for birthdays or anniversaries.
Just under a fifth (19 per cent) said money worries had caused stress in their relationship. Around 13 per cent had taken on extra work or hours to manage, while 12 per cent said they were having more arguments about finances.
Speaking of the findings ahead of Valentine’s Day, Mortgage Choice CEO Anthony Waldron said: “54 per cent of those planning to buy say they feel they are being priced out of the market simply because they are single.”
“Our survey has revealed that Australians attempting to navigate the market solo are feeling defeated, and those in a relationship have admitted to making financial sacrifices to keep their home loan and property goals on track.”
He continued: “Our latest consumer research highlights that despite a complex economic landscape and the possibility of additional rate rises this year, Australians’ property ownership dreams are proving remarkably resilient, with 42 per cent of respondents saying they plan to buy property in the next 12 months.”
When asked what would make them feel more confident about buying in 2026, prospective buyers said their confidence would lift with income growth (43 per cent), property prices stabilising (39 per cent), and more properties becoming available in their preferred area or price range (35 per cent).
“In 2025, we saw the cash rate reduce three times before the Reserve Bank of Australia (RBA) hit the brakes and held the rate steady at 3.60 per cent. We’ve also seen wage growth slow, and home prices reach new record highs, with national home prices rising nearly 9 per cent over the year.
“So, I think it’s understandable that more Australians would be looking to their paychecks, property prices and availability to feel more confident about their purchase plans,” he concluded.
[Related: National house prices accelerate despite rate hike spectre]
