It's hard enough already being a young person in Australia and trying to buy your first home.

Saving for a deposit can take years, finding a place you're happy to live in can take months, and then after all of that, your dream might disappear in minutes when you rock up at an auction and get out-bid by a cashed up older buyer.

But are real estate agents conspiring to make the experience worse?

And is it driving up prices?

The government in one state thinks so, and it's trying to do something about it.

This year, Victoria's government says it is cracking down on "underquoting", the practice where real estate agents give a price guide for a property that's dramatically lower than what the seller will actually accept.

So will it work?

And will it make it easier to buy your first place?

After an interest rate rise this week, we're taking a deeper look at how often underquoting is happening, and asking how much it's contributing to the stress of buying a first home. 

Guests: 

• Matthew Bowes, housing expert, Grattan Institute

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