One in 10 baby boomers a landlord

More than 400,000 baby-boomers aged between 40 and 54, or one in 10, now own investment properties, a Wizard Home Loans survey shows. The comparable figure for non-baby-boomers is one in 22. Wizard said the statistics indicate that baby-boomers are increasingly relying on property investment to finance their retirement. Last year, the number of baby-boomers electing to invest in non-employer superannuation funds increased by only 2 per cent while property investment surged 17 per cent.