Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

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.

“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.”

Advertisement
Advertisement

PROMOTED FEATURES


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

Latest News

The federal government has unveiled a plan to overhaul responsible lending laws by shifting from a “lender beware” model to a “borrowe...

Housing affordability pressures have intensified for first home buyers in five of Australia’s major capitals, who now require more time to...

ASIC has directed fund managers to do more to remain “true to label” after finding that funds labelled as cash had assets other than cas...

FROM THE WEB
podcast

LATEST PODCAST: How lenders are viewing the property price outlook

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.