Australia’s economic outlook has brightened slightly, with the latest Westpac–Melbourne Institute Leading Index shifting into positive territory for the first time in months. The index, which helps indicate the pace of growth in the near term, suggests the economy could run a little above trend heading into early 2026.
A few factors are behind the improvement. Consumer expectations have finally lifted, marking their first positive reading in nearly four years. Hours worked have edged up, and the share market has been holding at stronger levels compared to earlier in the year. Together, these have pushed the index higher and added some welcome momentum.
What does this mean for the average Australian? It suggests slow but improving economic momentum, stable interest rates for now, and no immediate rate cuts. Everyday Australians may see slightly better confidence and job conditions, but persistent inflation means living-cost pressures are likely to remain for some time.
In this week’s newsletter, we look at how first home buying in Australia’s east coast capital cities compares to some cities around the world.
When you’re trying to break into the Australian property market, especially in Sydney, Brisbane or Melbourne, it’s easy to feel like everyone overseas must have it easier.
But do they really? Let’s take a quick tour of how old first-home buyers are in major cities across Australia, the UK, Canada and the US. Spoiler: we’re not alone.
Australia: Sydney – A Tough Crowd to Beat
Let’s start at home. Nationally, the typical first-home buyer in Australia is in their mid-30s, but Sydney consistently skews older. While there isn’t solid evidence about the average Sydney first-home buyer age, we do know that more first home buyers in their 40s and early 50s are entering the market than in previous decades.
Sydney’s combination of high prices, tight supply and, until recently, big deposit requirements, means many people simply need more time to save, settle into their careers, or partner up before they can buy. So although the real “average” is likely somewhere in the mid-to-late 30s, Sydney buyers tend to be older than the national norm — and the upward pressure on age is very real.
London: Still Pricey, Still Younger
Cross the globe to London, and the average first-time buyer is roughly 35. That’s slightly older than the UK national average, but nowhere near the blowouts seen in Australia’s most expensive markets. Despite London being one of the world’s costliest cities, people are getting in a few years earlier than many Aussies.
Canada: Vancouver and Toronto – Australia’s Property Twins
If any country knows the pain of big-city house prices, it’s Canada.
In Vancouver, the typical first-home buyer is around 46, while in Toronto it’s closer to 40. These numbers are much more in line with what you’d expect in Sydney or even parts of Melbourne, long waits, big deposits, and competitive markets.
It’s a reminder that high-priced, high-demand cities behave the same, whether they’re on the Pacific coast of North America or right here at home.
United States: Major Metros
In the US, the national median age for first-home buyers has hit 40, and many major cities sit right around that mark. Think Los Angeles, New York, San Francisco – markets where affordability challenges look very familiar to Australians.
So… Are We Really That Different?
Not really. Yes, Sydney is in a league of its own, but when you zoom out, the trend is the same across the world: big cities = older first-home buyers. High prices, intense competition, and lifestyle shifts are pushing the age up everywhere.
If anything, Australia is part of a much bigger global story, one where major metropolitan living is becoming harder to buy into, and the “first home in your 20s” is now the exception, not the rule.
Variable
The rates below are based on a $500,000 loan, with the borrower making principle and interest payments with a loan term of 30 years. The rates quoted may vary depending on the borrowers LVR.
1 Year Fixed
The rates below are based on a $500,000 loan, with the borrower making principle and interest payments with a loan term of 30 years. The rates quoted may vary depending on the borrowers LVR. At the end of the three year fixed period, the borrowers interest rate will revert to a standard variable rate for the life of the loan.
