First home buyers urged to go on strike

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GENERATION Y’s frustration at being priced out of the housing market is spilling over into a viral internet campaign that calls for a ”buyers’ strike”.

A group called Prosper Australia has attracted thousands of pledges of support for its campaign, which asks people to sign a statement saying: ”I undertake not to bid at auction or negotiate by private treaty to buy real estate until prices moderate, just as they have in all the countries we compare ourselves to.”

It follows reports in The Age this week showing only three of every 10 lots for sale in new housing estates across Australia were accessible to average-income first home buyers.

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