New research has painted a stark picture of Generation X in Australia, revealing that this cohort is poorer, less likely to own a home, and increasingly disillusioned with the major political parties. The study, conducted by the Australian National University, shows that many Gen Xers are now turning to Pauline Hanson's One Nation as a political alternative.
Financial Struggles of Generation X
According to the research, Generation X—those born between 1965 and 1980—have seen their wealth stagnate or decline compared to previous generations. The median wealth for Gen X households is significantly lower than that of Baby Boomers at the same age, and they are more likely to be in debt. Home ownership rates have also plummeted, with only 60% of Gen Xers owning their own home, compared to 75% of Baby Boomers at a similar stage in life.
The study's lead author, Professor Ben Phillips, noted that Gen X has been hit hard by rising housing costs, stagnant wages, and the aftermath of the global financial crisis. "They are the first generation to be worse off than their parents," he said. "Many are struggling to save for retirement and are carrying high levels of mortgage debt."
Political Shift Towards One Nation
The financial pressures have translated into political discontent. The research found that One Nation has become increasingly popular among Gen X voters, particularly those in outer suburban and regional areas. Support for the major parties—Labor and the Coalition—has declined among this demographic, while the Greens have also failed to attract significant numbers.
Professor Phillips said the shift is driven by a sense of abandonment. "Gen X feels that the major parties have not addressed their economic concerns, such as housing affordability and job security. One Nation's populist message resonates with those who feel left behind by globalization and economic change."
The findings align with recent electoral trends. In the 2025 federal election, One Nation saw a surge in support among voters aged 45-60, particularly in Queensland and New South Wales. The party's platform of lower immigration, protectionist trade policies, and opposition to climate action has found a receptive audience among financially stressed Gen Xers.
Implications for Future Elections
Political analysts say the trend could have significant implications for future elections. With Gen X making up a large share of the electorate, their swing towards minor parties could erode the dominance of Labor and the Coalition. "If Gen X continues to feel economically insecure, we could see a further fragmentation of the political landscape," said Dr. Sarah Johnson, a political scientist at the University of Sydney.
However, some caution that One Nation's appeal may be limited. "While Gen X is angry, they are not necessarily aligned with One Nation on social issues," Dr. Johnson added. "The party's conservative stance on immigration and climate change may turn off some voters."
For now, the research underscores a growing divide between generations in Australia. As Baby Boomers enjoy relatively high levels of wealth and home ownership, Gen X is grappling with financial insecurity and a sense of being overlooked by the political establishment.
