Millennials Driving Property Investment Trends, Embrace Solo Buying
Recent data reveals a significant shift in the Australian property investment landscape, with millennials leading the charge and challenging traditional norms. Not only are they the most active generation in property investment, but a growing number are also venturing into solo buying.
In 2023, millennials (born 1981-1996) accounted for a substantial portion of new property investors, outpacing Gen X and other age groups. The average age of property investors stands at 43, with an average loan size just over $500,000.
One of the most notable trends is the increasing popularity of solo buying among millennials. Nearly one-third of millennial property investors are choosing to purchase investment properties independently, demonstrating a growing preference for financial independence and individual decision-making in property investment.
The data also highlights the enduring popularity of “rentvesting,” a strategy where individuals buy property in affordable areas while renting in their preferred locations. This approach allows millennials to enter the property market sooner without sacrificing their desired lifestyle.
The most sought-after postcodes for property investment in 2023 include Sydney CBD, West Melbourne, North West Sydney, North Melbourne, and Kellyville. Interestingly, several of these locations have consistently ranked among the top investment hotspots for years, reflecting their enduring appeal to investors.
This data underscores the changing dynamics of the Australian property investment market, with millennials playing a leading role and embracing new approaches to property ownership. 1 Their growing presence and preference for solo buying are reshaping the landscape, paving the way for a new generation of property investors with unique goals and strategies
