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Gen Ys Set to Buy Up Large

By Andrew Bell

Those looking at selling their Surfers Paradise property won't face a shortage of potential buyers with Generation Y hugely optimistic about housing affordability.

Gen Ys are those born between 1983 to the mid-1990s and the Housing Affordability Sentiment Index, an annual survey run by realestate.com.au, shows they are the most optimistic generation.

Those wanting to sell Main Beach real estate will be interested to hear that first home buyers now make up 46 per cent of the market.

Queensland as a whole reported more positive feelings about the market than the rest of the country and 73 per cent said their financial position was likely to improve in the next six months.

Gen Y women are also contemplating cracking the market solo, according to the Westpac Home Ownership Report.

Roughly half of the female Gen Ys surveyed said that owning their own home was a bigger priority than babies or marriage which received 14 and 5 per cent of the vote respectively.

The HASI report indicates that Gen Ys are willing to make sacrifices like cars and trips overseas in order to get onto the housing ladder.

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