Gen Z fear they will be poorest generation
LOS ANGELES: Gen Zs think they have it tougher than their parents, with four in five fearing they will be worse off than previous generations.
The Monash University 2025 Australian Youth Barometer – a survey of about 500 people aged 18 to 24 – revealed cost-of-living pressures are the top concern for the nation’s youth.
Almost 60 per cent say they will be unable to buy a house, and half consider themselves unlikely to have children.
The survey’s lead author, Professor Lucas Walsh, said it was time for policymakers to listen to young people’s needs as their share of the vote continued to grow.
Fewer than half of respondents were confident they would achieve financial security, while 85 per cent reported worrying about the future or their finances in the past year.
RMIT students Zoe Taylor and Max Rodd, both 18, agree that financial independence feels out of reach.
I definitely don’t have the funds to move out, it’s not even in the near future for me,” Ms Taylor said.”
“My parents moved out when they were 17 and 18 so it’s a lot harder now,” Mr Rodd added.
“I’ve applied for jobs on Seek and Indeed every day, and so far I’ve only gotten one interview back.”
Unemployment (44 per cent) and underemployment (60 per cent) were also rife among survey respondents.
One in four rated their mental health as poor or very poor.
Concerningly, nearly half of respondents (46 per cent) said they felt they were “missing out on being young”.
In 2022, about half of young Australians thought they would be financially worse off than their parents. In 2025 the number is now 79 per cent.
This year’s survey shows young people are losing faith in Australia’s climate action, with 10 per cent fewer young people confident climate change will be brought under control, down from 34 per cent in 2024
Professor Walsh said the findings should wake up policymakers, and that a number of “tailored solutions” were possible.”
These include financial and mental health education and support, and subsidising youth living costs such as transport and study-related expenses.
“With young people now making up a historically large share of voters around the country, governments around Australia cannot afford to ignore their pressing concerns,” Professor Walsh said.
“In a cost-of-living crisis, short-term policy debt reductions are welcome, such as lowering student debts like HELP and VET student loans.”
“But rising costs of living mean that young people need additional support now, combined with major tax reform to ensure that they have affordable places to live in the future.”
Surf instructor and student Stella Huxtable, 18, said housing in her hometown of Geelong felt way out of reach.
“Houses there are averaging like $700,000 to $900,000,” she said. “It’s obviously going to be a lot more difficult than when our parents were around … if I left home, I’d be broke in minutes.”
RMIT student Maya Malavisi said she’d always dreamt of moving out with friends, but that was near impossible.
“Everything is definitely more expensive nowadays,” she said. “The housing crisis is terrible.”