Australia sees rise in co‑ownership home purchases

A 2024 survey found that more than half of Australians would consider buying a property with a friend or sibling, though only about 4 % have actually done so. Property lawyer Deanna Lastrina of Nest Legal reported a sharp increase in enquiries for co‑ownership agreements over the past eight months, as first‑home buyers seek faster market entry without parental assistance.

Friends Karli and Mark successfully bought a house in May 2024 as tenants in common, each obtaining separate loans and sharing maintenance costs 50/50. Lastrina advises this structure for friends, allowing distinct ownership shares and flexible inheritance, contrasting with joint tenancy’s 50/50 ownership and right of survivorship.

The trend highlights co‑ownership as a potential solution to Australia’s housing affordability challenges, offering accelerated access to property markets for younger buyers.