Rising housing costs are driving more Australians to invest in property before tying the knot
More Australian couples are prioritising homeownership over marriage, according to new research from Aussie Home Loans.
The analysis, which reviewed tens of thousands of mortgage settlements between 2010 and 2024, found an 80% increase in home loans approved for unmarried couples since 2015.
The report revealed that de facto couples accounted for 15% of all mortgages in 2015, but that figure has now risen to 27%. The shift suggests that more Australians are opting to invest in property rather than traditional milestones like weddings.
Figures from mortgage brokerage Lendi Group further highlight the shift. Between 2020 and 2024, the proportion of home loan applications from de facto couples increased from 24% to 39%, while married couples’ share fell from 42% to 33%. For first-home buyer applicants in early 2024, 40% were de facto couples, 30% were single buyers, and 29% were married couples.
The trend comes as housing affordability pressures force many Australians to reassess financial priorities. The cost of a wedding in New South Wales averages nearly $50,000 – an amount that could contribute substantially to a home deposit. A 20% deposit on a median-priced Sydney home of $1.1 million, for example, requires around $220,000.
Aussie Home Loans found similar trends across other states. In Victoria, a wedding costing $47,200 could amount to more than half of a 20% house deposit in some suburbs. In Queensland, where the average wedding costs $31,900, that expense equates to roughly one-fifth of the deposit required for a $900,000 home.
In South Australia, wedding expenses can significantly impact potential homebuyers. Australian Bureau of Statistics data shows the average wedding cost in the state reached $40,000 in 2024 — equivalent to nearly 25% of the 20% deposit needed for an $815,500 home in Adelaide. For buyers with a 10% deposit, that figure jumps to 49%.
“A $40,000 wedding – $40,000’s what you’d be paying roughly in stamp duty and government charges, so a lot of young people have seen that by forgoing the wedding, for now at least, they can really make, what is not an insignificant amount, work for them and use it to get a foot on the property ladder,” said John Morris, chief auctioneer at Ray White SA.
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