This audio is voiced by AI and may occasionally mispronounce words. Share your feedback and help us improve this feature. Read more about how we use AI at SBS here. Should you invest in shares, or property? Is university still worth it, or should you start your own business? With the path to financial security becoming less clear, Insight asks how aspirational people are getting ahead, and whether Australia is a good country to build wealth. Watch Insight episode Gettin' Rich on SBS On Demand. Enosh Tampoe, 23, and his family migrated from Sri Lanka 16 years ago and have been living in the same rental property since then. The Sydney mortgage and finance adviser says that as an immigrant family "starting from scratch", he felt financially behind his friends at times growing up. Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox. "There were situations where I did feel like [I was] potentially behind — just because at the end of the day, there is that intergenerational wealth ...You'll notice obviously, they have their own houses; they have nice cars ..." he told Insight. "Having that support from parents — whether it's in the form of getting money or continuing to live at home rent-free and all that stuff — definitely helps." Feeling he couldn't rely on the "whole natural pathway of doing well in school, getting through uni and [getting] a big boy job" to build wealth, he took a hard approach to saving at an early age and bought a Sydney apartment two years ago. Now, he's giving himself 10 years to save a $600,000 deposit for a $3 million Sydney home where his whole family can live. "My end goal is … that great Australian dream: owning my own home, building my family and raising them in a nice neighbourhood," he said. To reach his goal faster, he lives with his parents and rents out his apartment — taking advantage of the tax benefits of negative gearing to build equity. Negative gearing refers to a situation where the ongoing costs of an investment exceed the rental income received, and the overall loss can then be claimed as a tax deduction. But as of 1 July 2027, the federal government will restrict the tax benefits of negative gearing to new residential builds. Enosh says this new law has reduced his borrowing capacity by "around 20 per cent", putting his plans to buy a second investment property this year on hold. "If I were to purchase a second investment property, I'm not getting that benefit towards my salary or wage, that tax benefit." Leticia Coco also became a homeowner in her early 20s — when her mother died from cancer, and she and her brother inherited the family home. The siblings sold the house, and after setting up an emergency account, travelling and receiving laser eye surgery with the money, the occupational therapist eventually bought an apartment. "It meant a lot, that inheritance," she said. "(Without it, I'd be) saving or feeling like purchasing property was out of reach. "I do feel wealthy in some ways, but yeah, you can't put a price on having your mum around." Now a mother herself and living on the NSW North Coast, Letitia is hoping her inheritance will financially support her far into the future. "I'm trying to use my inheritance or my head start … to help me get to maybe semi-retirement by the time I'm about 45 or 50." Although house prices are cooling in parts of the country, overall property prices remain stubbornly high in comparison to income. Economist Chris Richardson says the reason property continues to rise in value is that there is not enough supply to keep up with demand; and the undersupply of housing in Australia is a result of a decades-long culture of overregulation. "In housing our policy is, &ap
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