Gen Y keen to dive into property market - just not right now

Font size :

A report released today showed a that although there is  significant level of interest in property investment from Australians under 30 , most are waiting for the new year before buying. 

The main reasons Gen Y gave for investing in property included wanting to set themselves up financially for the future (93%), seeing the advantages of property over share investment (73%) and low interest rates (66%).

"Many have high hopes to purchase more than one property within two years, and whether this is overly ambitious or not, the positive sentiment should provide a boost to the housing industry," said Kristy Sheppard, senior corporate affairs manager at Mortgage Choice, who comissioned the report. 

 Seventy-one per cent of Gen Y respondents said they would delay their purchase until after 31 December. This indicated that the recovery of property markets would continue well into 2010, said Sheppard.

"Despite their uncertainty over the housing market's health, Gen Ys are still keen to become investors and do so relatively early, giving themselves plenty of time to accumulate a larger property portfolio," Sheppard noted.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Friday, Sep 22, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords