They say home is where the heart is but, for many young Australians, home is also where you save money.
Recent research by marketing agency Lifelounge has found that 47% of 16 to 30-year-olds still live with their parents, despite the enticing carrot of the first home owner’s grant dangled in front of their youthful noses.
The widespread shunning of shared houses or mortgages by young people should provide food for thought for budding entrepreneurs.
Home interior design is usually targeted at cashed-up couples but, with young people happily settled at home and commanding plenty of disposable income, maybe a business could aim a bit younger and provide some flourishes to Gen Y bedrooms?
Alternatively, businesses could provide the few luxuries not bestowed by a doting mother and father. Online deliveries and household services can be tailored with young adults in mind or maybe their weary parents could do with a company that will lessen the load?