New research from headspace revealed that cost of living is the biggest concern for young Australians, with housing affordability also being a significant worry.

The headspace National Youth Mental Health Foundation survey found that 54 percent of participants aged 18 to 25 wanted to see the matter addressed urgently, and 71 percent are fairly worried about their ability to afford their own home.

Headspace CEO, Jason Trethowan, said young people are anxious about the rising cost of living, and how it is going to impact achieving major life milestones.

“Young people should never have to worry about having a safe place to call home,” he said.

“We know financial security is a protective factor for good mental health, and changes to a young person’s financial circumstances can place their mental health under stress.”

Trethowan said it’s incumbent for governments to take the steps to alleviate these pressures.

“Together we need to be finding ways to help young people feel optimistic about their futures.”

University student, Grace Sholl, said cost of living is affecting her mental health.

“As a young person with anxiety and depression, I’m finding the cost of living really challenging,” she said.

“Daily activities like grocery shopping can be stressful, because I’m constantly thinking about how much I can afford to spend on basic needs.”

“It’s important governments and communities listen to young people when we say we’re doing it tough, and work together to explore ways the system can better support the mental health of young people.”

Photo: Melbourne houses, 1980 by Nick available HERE and used under a Creative Commons license. This image has not been modified.