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First home buyers getting older

25/01/2010

The average age of people buying their first home is getting older. Housing Industry Association analysis of Australian Bureau of Statistics data shows that in 2008 two-thirds of first-home buyers were under 35. In 2001, 75 per cent of first home buyers were under 35.

"Strong growth in house prices has meant that First Home Buyers are effectively forced to delay the purchase decision until later in life," HIA senior economist Ben Phillips said. First home buyers aged over 45 increased to 9.8 per cent in 2008 from 6.3 per cent in 2001.

Source: Brisbane Times

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