Prominent Australian entrepreneur Mark Bouris has some blunt advice for young wannabe homeowners: don't bother - at least until you're older.
The country's median house price surged more than 20 per cent putting the dream of owning a home seemingly out of reach for many young people.
But Mr Bouris said there's no reason to rush into the market as it's actually more affordable to rent a nice house, than to buy one.
Buying a home is a huge investment that Mr Bouris hopes younger buyers have fully considered, based on where they may be in life.
Entrepreneur Mark Bouris (pictured) said house prices are rising faster than young people can save for their deposits, as Australia's median house price rose 21.6% to $686K in the 12 months to October 2021
SYDNEY: Up 30.4% to $1,333,767
MELBOURNE: Up 19.5% to $972,659
BRISBANE: Up 24.8% to $731,392
ADELAIDE: Up 22.5% to