Australia's millennials are more pessimistic about their future financial prospects and wellbeing than their global counterparts, a new study shows.
The global survey of 8000 millennials in 30 countries - those born after 1982 - found young Australians were more pessimistic about their financial and emotional wellbeing than their global counterparts, due to rising house prices, and had little faith in the country's political future.
"I suspect booming house prices in the major cities of Sydney and Melbourne are partly to blame for this pessimism, with many young Australians believing the dream of owning their own home is increasingly out of reach," Deloitte Australia chief operating officer David Hill said.
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Politics is equally depressing for Australian millennials, with only 22 per cent expecting the overall social and political situation to improve in the next 12 months, compared to 36 per cent globally.
Mr Hill said politicians would find it hard to connect with young Australians who were disillusioned with the political future and want politicians to "use plain, straight-talking language".
"I think that they are genuinely questioning whether we are the lucky country," Deloitte's David Brown told SBS News.
"For most millennials they see their parents having had a home - have a good job, and yet today what we are seeing is it's harder."
However, some milennials are more optimistic than others.
Gina Lednyak is a Gen Y-er who came to Australia via New York after her family left Belarus when the Soviet Union fell apart.
For six years she has been establishing her social media business and knows just how fortunate she is.
"I think seeing that environment of Soviet Union and communism and political upheaval and then being in a place like Australia, we are so incredibly lucky to have all of these opportunities that we have here," she told SBS News.
"I do think you need a fair bit of struggle or something to be able to know how lucky you are and I think in Australia at times we don't actually get that perspective."
Young Australians also share a growing concern for terrorism with their global counterparts, with 30 per cent of millennials listing terrorism as a top concern in 2017, compared to four years ago when climate change and resource scarcity were the top contenders.
The survey also found 58 per cent of young Australians said they planned to leave their job in the next two years, compared to the global trend, which found recent outcomes such as the UK's Brexit vote and the US presidential election might be driving a desire among millennials for greater job stability.
- with AAP
