Gen Y Will Take the Property Market by Storm
When Gen Y (born between 1976 and 1991) are ready they are going to be a force to be reckoned with in the Real Estate Market.
Gen Y are the ones who are making the money. They have been to Uni., they are paying off their new cars and their HEC fees with good incomes, and when all that is done they will hit the market big time. Gen Y are a generation that are prepared to do what it takes to have the best.
They rent quality inner city apartments (great for investors), and they want the ultimate in lifestyle. They want to show off to their peers. In Brisbane alone, 30% of inner city occupants are in the 20-26 year age group. In the last two years there has been an increase of Gen Y people moving to Brisbane.
Very few people in this age group own their own homes and therefore are great rental potential. In their early years they are not interested in owning homes, they are more interested in fast cars, boats, travel, and all the good things in life. Once they have experienced this they will then be looking to settle down and buy their homes. But it will be a few years yet before the full force of this age bracket hit the buying market place.
In the meantime they make very good tenants for the better quality inner city units.
Filed Under: Investment Strategies • Property Investment Tips
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