Australia news live: Paterson says PM’s AI hack timing not a coincidence; gen Z going without for a house

Australia’s gen Z are the generation most willing to cut their spending way back to afford a home, according to Cotality data reported by AAP.

The figures show more than 75% of all Australians were curbing their outgoings in pursuit of property, meaning we are more likely to do so than our Canadian, US and UK peers (for whom the figures sat below 70%).

Levels of discretionary spending, like eating out, owning a car, and even moving from the family home into a share house, have dropped among young adults in recent years.