Cindy, a single mother to a 12-year-old son and 21-year-old daughter, has rented seven different places over the past 18 years.
"After going through a painful separation when my daughter was three, I found myself staying at a caravan park with little possessions until we could find somewhere to rent. I was 28 and unemployed as I had been a stay at home mum," she says.
Six years after her separation, she had her son with a new partner.
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"I went back to complete my Bachelor of Accounting, doing my final exams whilst heavily pregnant and working full time in an accounts payable position. I then split from my partner when my son was four and found a house to rent on my own. Over the next eight years, I worked hard, completed my Chartered Practice Accountant qualifications and am now a financial accountant. This job has helped me save for a deposit.
"Two years ago I also started my side business Enchanted Gypsy, selling tarot card decks, which helped put me in a great position. However, I knew I was at least 10 years away from being able to save a 10-20 per cent deposit. There were always extra unexpected costs, like school fees and orthodontist fees."
The added challenges single parents have to home ownership.
Despite Cindy working full time in a professional role, these costs, on one income, while renting with children made it more difficult for her to enter the property market.
Paul Williams, mortgage broker at Mortgage Choice has helped many single parents buy a home. He has found it disheartening to see many lose confidence in their hopes of securing a home.
"There are a lot of people who are just resigned to 'I'm going to rent for the rest of my life.' I find a lot of single parents have to rent somewhere that's got more space for their children. This can often mean their rent can be higher than what their mortgage payment would be. But they can’t get into the market because they don’t have enough of what’s called 'genuine savings'," Williams explains.