More evidence has emerged that Gen Y buyers are increasingly turning to investment properties for their first purchases.
Loan Market has claimed a 15% rise in the number of first home buyers looking to purchase investment property. The company's COO, Dean Rushton, said Gen Ys represent a large proportion of first time buyer enquiries.
"Gen Y is still chasing the great Australian dream of home ownership but many are approaching their entry to the market from a different angle. An investment property also gives them the option to buy property where they can join forces with a family member or friend to purchase," Rushton commented.
A recent Mortgage Choice survey also provided evidence of the trend, with 43% of Gen Y respondents saying they planned to become investors before owner-occupiers.
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out