A woman has opened up about her struggles in getting onto the property ladder despite having a large chunk of savings. It's no secret the housing market in Australia is extremely hot at the moment and there are few signs the situation will ease for wannabe homeowners.

But a 30-year-old has described how "frustrating" it is that even with nearly $100,000 in the bank, she can't seem to get the keys for a "decent" property. She was stopped on the street in Sydney for a TikTok video and asked what's stopping her from using that money now to buy a home.

"Even with what I've saved, it's really hard for the banks to loan you that much for what you need," she said.

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"I think it's really frustrating...[we were] kind of sold the lie that you work hard, you save a lot of money and you'll be out able to get into the property market.

"That's exactly what I've done. And, right now, it's still unattainable, especially for a single woman."

The unnamed Sydney woman said she had recently readjusted her priorities because she was embarking on a masters degree.

She has set aside her $95,000 in savings while she undertakes her studies because she would rather "live well" than own a home.

But she hoped that having her masters degree would allow her to earn more money in about five years and she'd be able to eventually buy a property.

"Even getting into something decent, even like a two, three-bedroom townhouse, it starts at like $650,000. And the entry-level is not great either," she explained to Coposit.

Recent data is grim news for people wanting to get onto the property ladder

Aussies desperate to get the keys to their castle are facing a difficult reality.

As the price of buying continues to rise, many are confronted that the savings they've put away won't be enough to get their foot on the ladder.

Research from PropTrack released at the start of June revealed house prices rose to a new record in May.

Prices in Perth rose 20 per cent in a year, and nationally prices are up nearly seven per cent on May 2023 prices.

That is set against national wage growth of four per cent in the year to March. Capital city prices are now up 7.22 per cent year-on-year on average.

Homes have never been more expensive in Sydney, Brisbane, Adelaide and Perth.

However, prices were higher in late-2022 in Melbourne, Darwin, Hobart and Canberra.