Generation Y Proving to be Property-Savvy
The Gen Y cohort in Australia is continuing to debunk stereotypes by demonstrating sound investment acumen.
The Mortgage Choice 2013 First Time Property Investors Survey produced some interesting findings which showed that many young Australians are now recognising the benefits of investing in the property market.
Moreover, those in Generation Y – define by the survey as those born between 1980 and 1994 – have indicated that they are willing to give up certain aspects of their lifestyle in order to fund their long-term vision.
The results go against the popular view of Gen Y as the 'live for today' type who don't consider the future implications of their actions.
"Gen Ys appear to be financially switched-on and are focusing on property investment, with 40 per cent of the respondents in this age bracket willing to forgo any available First Home Owner Grant on their first property purchase in favour of buying an investment property as opposed to a home," said Belinda Williamson, head of corporate affairs for Mortgage Choice, in an August 15 media release.
According to the survey, Gen Y respondents have claimed they are even willing to sacrifice eating out, holidays, vehicle purchases and other luxuries to fund their investment.
If you are looking to invest in Surfers Paradise property, whether you're in Generation Y or otherwise, contact the expert team at Ray White Surfers Paradise today.