Powered by MOMENTUM MEDIA
subscribe to our newsletter
Gen Y more active investors than baby boomers

Gen Y more active investors than baby boomers

Brokers might be surprised to learn just how many younger Australians are active in the property market.

First National Real Estate chief executive Ray Ellis said millennials, who are aged between about 15 and 35, are enthusiastic about investing in property.

“Contrary to popular belief, millennials are buying their first investment property at the average age of 25,” he said.

Advertisement
Advertisement

“This sharply contrasts with baby boomers, who on average purchased their first home nearly two decades later at the age of 45.”

He added: “Millennials commonly invest first, while renting. By comparison, the motivation to buy houses one to two decades ago was to have families in, not [to start] a property investment portfolio.”

Mr Ellis said the number of millennials who buy multiple properties is on par with older generations, with 17 per cent owning two or more properties.

However, there are many members of that generation who are anxious about affordability, according to Mr Ellis.

“A report compiled by BDO and Co-Op from a survey of 18 to 29 year olds found that 87 per cent think their generation will never own a home outright. Yet 72 per cent of them feel that it's important to buy a house as soon as they can,” he said.

Gen Y more active investors than baby boomers
mortgagebusiness
  • 23
    Days
  • :
  • 07
    Hours
  • :
  • 54
    Minutes
  • :
  • 01
    Seconds

EARLY BIRD CLOSING SOON
Have you secured yours?

Latest News

Mitigating drivers of misconduct in the financial services industry will be a key area of focus for regulators in the Asia-Pacific region in...

Financial institutions in Asia Pacific will face myriad challenges and risks in 2019 and Australia is no exception, a new S&P report ha...

Regulatory reform proposed by the federal government would remove barriers to enhanced competition in the banking sector, COBA has said. ...

FROM THE WEB
podcast

LATEST PODCAST: The broking industry hits new heights

Is enough being done to ensure responsible lending?