Despite having a good job, lawyer Rebecca, 25, has had to move back in with her parents to save a deposit for her first home.
Having graduated at the end of 2012, and now  in the $70,000 to $90,000 salary bracket, she initially wanted a house or townhouse.
Finding them unaffordable, she considered apartments but still struggled to find something she could afford. 
"It's just not feasible to be able to save a deposit with the cost of living expenses," she said.
She is one of the 80 per cent of young Australians who want the Great Australian Dream, but who believe they're not on track to being able to buy, new survey results from REST Industry Super show.
The survey of 1000 Millennials found more than half of 18 to 34-year-olds blamed rapidly rising house prices and the increased cost of living for pricing them out of home ownership.
Rebecca is looking for a home in Brisbane, where the median house price was $512,809 at the end of the   March quarter. In Sydney, the median house price is just shy of $1 million, while in Melbourne it's about $725,000.
The Australian Bureau of Statistics records first home buyers declining by about a third in the 10 years to 2016.
"It's nowhere near as hard [in Brisbane]," she said. 
"In Sydney a deposit is almost impossible ... You have to be realistic - a lot of first home buyers go into it with what their parents had in mind, but they need to be realistic about what they can afford."
When her parents bought, at a cost of about  $90,000, she said  they didn't have to sacrifice their lifestyle to afford a home.
"It's not manageable to work and save for a home, particularly if you want to have a social life," she said.
REST Industry Super chief operating officer Andrew Howard said research found the majority of respondents believed home ownership was just as important to them as it was for their parents, "so they're obviously feeling quite disheartened about the current property market".
"There's no doubt that there's been a cultural shift in the way Millennials live - marrying later in life, if at all, travelling and working abroad, switching careers or pursuing further study are just some examples of common factors that can affect when a young person is ready to enter the property market and their next phase of life," Mr Howard said.
Rebecca's approach of moving back in with  family "may not be appealing to all potential first home buyers" but offers the possibility of huge savings if you can avoid paying rent, First Home Buyers Australia (FHBA) founder Daniel Cohen said.
"Even consider negotiating lower board with your parents if they can see that you are passionately saving money for a property in the future. Rent is likely to be your biggest expense if you move out," he said.
A weekly rent of $400 back in your pocket could equate to $20,000 a year if you were allowed to stay at home for free.
For those without the option of moving back home, finding housemates to  cut rent costs could also be worthwhile, he said.
"Be patient, set yourself a budget and an automated savings plan," Mr Cohen said.
  Five top tips for first home buyers  
1. Look for properties for sale beyond the usual locations  and don't write off homes that aren't as well marketed - you may have less competition. 
2. Think about "rentvesting", or buying a property in an affordable location  and leasing it out,  while renting  in an area you want or need to live in.
3. Consider approaching a buyer's agent who can help you find your first property and even negotiate the purchase price on your behalf. 
4. Speak to your parents about guarantor home loans, where your parents help you afford the mortgage. 
5. Speak to a mortgage broker to find out about your options and borrowing capacity. 
Source: FHBA