Young people are the new landlords
One in three Gen Ys (people aged under about 35 years) plan to buy a home in the next three years. Ten per cent plan to buy an investment property.
An investment property is increasingly seen as an affordable way into the housing market by Gen Ys. Gen Ys made one third of all investment house purchases last year, up from 21 per cent in the previous year.
Young investment property buyers need to be aware of recent regulatory changes that have resulted in investment property loan interest rates rising by 1.44 percentage points in the last three months.
11 per cent of Gen Y men and 7 per cent of Gen Y women have an investment property.
Source: The New Daily