The latest research from ME Bank shows that housing affordability is proving more difficult for single people.

The percentage of loan applications received by the lender dropped nine percentage points since 2015 – meaning more singles are being excluded by the market.

Women have it tougher than men. Single female home loan applications fell 14 percentage points in the same period.

Is there any good news? Yes. While some areas of Western Australia are experiencing strong price growth, others remain very affordable.

Smart buys are possible in Rockingham without breaking the bank. For single people on an average income, there are many units and townhouses that are very much within an affordable range, either as a primary residence or as an investment.

Lenders are also encouraging singles to team up with their parents or another friend or family member as a way to get into the property market. 12% of Western Australia’s first home buyers receive financial help from their parents.

Parental guarantee arrangements mean that parents can use their own property to guarantee their child’s loan. These guarantees mean that singles can avoid extra charges like Lenders Mortgage Insurance.

As long as your income is sufficient and you don’t try to borrow an excessive amount of money, single people should still be able to comfortably make repayments on a loan.

Consulting one of Smartline Rockingham’s brokers will help make sure you have the right home loan for you. This will also save you money in the long run, meaning you can pay off your loan sooner.