According to the latest data, the number of first-time property buyers purchasing an investment instead of a home is increasing.
The NAB Residential Property Q3-2016 Survey found that many young prospective property owners are choosing to invest rather than opting for the traditional route of first homeownership.
According to the NAB survey, first home investors constitute about 12.2% of all new property sales in the third quarter of 2016, up from 11.1% in the second quarter. The NAB survey also found that first home investors represented 10.6% of all established property sales, a slight increase from 9.7% in the second quarter.
According to ING Direct’s latest Financial Wellbeing Index, there’s a growing number of young buyers in the 18-34 age bracket turning to property investment. As per the index, 22% of Generation Y own at least one investment property (despite concerns about housing affordability among young people); this is followed by 20% of Generation X and 19% of Baby Boomers.
“What’s interesting is that while there are continued questions around affordability and the challenges for younger generations in getting onto the property ladder, it’s actually Gen Y that is leading the property investment pack,” said Mark Woolnough, ING Direct’s head of third party distribution.
Young Investors Keep Their Eyes On The Early Retirement Prize
Aussies Are Turning To New Methods To Enter The Property Market
Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker
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